EFTA and Chile move closer to modernised free trade agreement

EFTA and Chile delegations

Over the course of three days, from 30 August to 1 September 2023, delegations from the EFTA States (Iceland, Liechtenstein, Norway and Switzerland) and Chile convened in Geneva for a sixth round of negotiations towards a modernised and expanded free trade agreement. The existing EFTA-Chile free trade agreement, which entered into force in 2003, embarked on its modernisation process in 2019.

Erik Andreas Underland, Specialist Director in the Norwegian Ministry of Trade, Industry and Fisheries, acted as the EFTA spokesperson, while Sebastián Gómez, Director General of Bilateral Economic Affairs at the Undersecretariat for International Economic Affairs, headed the Chilean delegation.

Delegations focused on key areas requiring further updates to finalise the modernisation process. These areas included trade in services, financial services, trade and sustainable development, intellectual property rights, as well as legal and horizontal issues.

The in-depth and constructive discussions during this round yielded substantial progress in enhancing the existing free trade agreement. As a result, both sides have committed to convene for a final round of negotiations early next year.

EFTA’s full report of the round is available here.

Economic relations between the EFTA States and Chile

Bilateral EFTA–Chile merchandise trade reached almost USD 918 million in 2022. EFTA’s main exports to Chile were pharmaceutical products, machinery, medical instruments and ships, boats and floating structures. For the same year, imports from Chile consisted mainly of chemicals, fruits and nuts and animal feed and beverages.

Read more about merchandise trade between EFTA and Chile here.