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Chile

Chile

The EU and Chile concluded an Association Agreement in 2002, which included a comprehensive Free Trade Agreement that entered into force in February 2003.

The EU-Chile Free Trade Agreement is broad and comprehensive and covers all the areas of EU-Chile trade relations.

Trade picture

  • The EU is Chile's second largest source of imports, after the USA. The EU is also Chile's third largest export market, after the recent rise of China as an important export market for the EU.
  • Key EU imports from Chile include mining products such as ores and non-ferrous metals, mostly copper which has historically represented around 55% of total exports to the EU. The agricultural sector contributes up to a quarter of the total EU imports from Chile, notably as wines, fruit and vegetables, fish and wood products (cellulose and other).
  • Important EU exports to Chile include machinery and electric equipment, transport equipment, chemical products, and fuel.

EU-Chile "trade in goods" statistics

Trade in goods 2011-2013, € billions
Year EU imports EU exports Balance
2011 11.1 7.7 -3.4
2012 9.7 8.5 -1.2
2013 9.0 9.2 0.2

EU-Chile "trade in services" statistics

Trade in services 2010-2012, € billions
Year EU imports EU exports Balance
2010 1.6 2.3 0.7
2011 1.5 3.1 1.6
2012 1.6 3.2 1.6

Foreign direct investment

Foreign direct investment 2012, € billions
Year Inward stocks Outward stocks Balance
2012 2.6 28.5 25.9

More statistics on Chile

EU and Chile

The Free Trade Agreement between the EU and Chile that entered into force in February 2003 led to a significant increase in trade in goods and services between the EU and Chile. In 2011 bilateral trade had more than doubled since 2003, passing from the initial € 7.7 billion in 2003 to € 18.6 billion in 2011.

An Association Committee and Special Committees has been created within the framework of the EU-Chile Association Agreement. The committee meets once a year to deal with bilateral trade irritants and to assess further possibilities for widening trade and investment between the EU and Chile.

The EU-Chile Association Agreement foresees that both parties will further liberalise trade in agricultural goods and services in the future. Discussions on the protection of geographical indications will also be important part of the deepening trade negotiations.

Chile has a very wide network of free trade agreements. The country is an important ally for the EU for further trade liberalisation.

Trading with Chile