Directorate-General for Trade

Chile

In terms of trade value, Chile ranks 24th among EU import partners and 42nd among export partners. The EU is Chile's second largest source of imports after the USA and its biggest export market, followed by the USA. The EU and Chile concluded an Association Agreement in 2000, which included a Free Trade Agreement that entered into force in February 2003.

The agreement of the FTA has led to a significant increase in trade in goods and services between the EU and Chile. European imports have more than doubled since 2003. Chile has a very wide network of free trade agreements, and is a strong international defender of open trade, including in the ongoing WTO Doha Round of multilateral trade negotiations.

The EU and Chile have signed a Free Trade Agreement that is one of the most comprehensive in the global economy

Trade in goods

• EU exports of goods to Chile 2007: €4.7 billion
• EU imports of goods from Chile 2007: €12.6 billion

Key European imports from Chile include: iron and steel (52.7%), mineral products (16.8%), vegetable products (8%), and prepared foodstuffs (6%). Important European exports to Chile include: machinery and electric equipment (37.1%), transport equipment (16.8%), chemical products (13%), and iron and steel (7%)

Trade in services

• EU exports of services to Chile 2005: €1.1 billion
• EU imports of services from Chile 2005: €2.2 billion

More statistics on Chile

The EU-Chile FTA and its future evolution

The EU-Chile FTA is one of the most modern and comprehensive in the global economy. The agreement covers all the areas of EU-Chile trade relations, going well beyond WTO commitments. The agreement eliminates barriers to trade and establishes clear, stable and transparent rules for exporters, importers and investors. It creates a free trade area in goods, services and government procurement, liberalises investment and capital flows and strengthens the protection of intellectual property rights. The agreement created an Association Committee and Special Committees that meet once a year to assess further possibilities for widening bilateral trade and investment.

The EU-Chile Free Trade Agreement foresees that both parties will further liberalise trade in agricultural goods and services in the future. Both parties are interested in improving market access for their products and services. Discussions on the protection of Geographical Indications will also be important part of the further deepening of the FTA.