The parties achieved good progress relating to the update and expansion of the FTA. Expert discussions were held in market access in trade in goods, trade in financial services and intellectual property rights. Heads of delegations discussed the remaining areas in which the existing FTA will be updated. These are rules of origin, trade facilitation, technical barriers to trade (TBT), sanitary and phytosanitary measures (SPS), trade remedies, market access in trade in services, trade and sustainable development as well as government procurement. The parties agreed to hold the second round in the first trimester of 2020. Intersessional exchanges on various outstanding issues will be conducted in the meantime.
Bilateral trade between EFTA and Chile has grown strongly since the FTA entered into force in 2004. Excluding gold, EFTA’s imports from Chile have almost doubled from USD 109 million in 2004 to 206 million in 2018 while exports increased from 178 to 485 million over the same period. In total, trade has increased by 140 percent in the 15 years after the entry into force. EFTA’s main exports to Chile in 2018 included pharmaceuticals, ships and machinery while fruits, inorganic chemicals, wine and fish oil were important imports.
For EFTA-Chile trade statistics, see EFTA Trade Statistic Tool
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