Chile and Brazil conclude negotiations for a free trade agreement

Chile and Brazil concluded negotiations that supported a free trade agreement (FTA ) for six months and will strengthen trade integration between the two countries, said an official statement.

After four rounds of negotiations, the technical teams of the two countries "have made substantial progress in closing the chapters envisaged by the FTA," the official statement said this weekend in Chile and Brazil.

After the end of the discussions, the congresses of the two countries will have to badyze the agreement for its final approval

"We have made substantial progress towards signing the agreement before the end of the year. Year, taking into account the presidents' mandate, "said Felipe Lopeandía, director of economic affairs in Bila. Ministry of Foreign Affairs of Chile.

The negotiations that ended in Santiago on Friday included a chapter of the regional and global VCRV value chains, in which both countries recognized the importance of "intensifying the integration into the trade of goods, services and services ". investments and activities and / or possible actions allowing SMEs to join these chains. "

This agreement will complement the Agreement on Economic Complementarity 35, which governs trade between Chile and the Mercosur countries (including Brazil), which is the first time that Brazil has badumed a bilateral trade agreement, commitments on e-commerce, good regulatory practice, transparency and anti-corruption, global and regional value, gender, environment and labor, "the statement added.

Between January and August of this year, trade between Chile and Brazil amounted to $ 6,808 million

. Brazil is Chile's largest trading partner in Latin America and the largest recipient of Chilean direct investment abroad.