Free Trade Agreement Chile Uruguay Initiates negotiations

Montevideo February 23. It concludes the first round of negotiations on the future Free Trade Agreement Chile Uruguay.

Chile and Uruguay agreed to begin negotiations to realize a last generation trade agreement, which will deepen the trade and economic relations between the two countries.

The first meeting, held at the headquarters of the Ministry of Foreign Affairs in the Uruguayan capital, Andrés Rebolledo was there to speak in behalf of Chile, director general of the DIRECON, while Uruguay was led by Ambassador Ricardo Nario, head of the Directorate General for International Economic Affairs.

“We have had a very successful first encounter with Uruguay to reach a comprehensive trade agreement.This instrument will collect those aspects already negotiated in the agreement signed by Mercosur and Chile with which this country is a full member, and will incorporate a number of new own chapters of an agreement last generation. This agreement will broaden and deepen our bilateral trade not only in goods but also in services,” said Andres Rebolledo.

Among these he cited, exchange of goods, rules of origin, trade in services, sanitary and phytosanitary measures, technical barriers to trade, cooperation, environment, intellectual property, trade facilitation, labor and gender rights.  It is also hoped that this new free trade agreement Chile Uruguay is linked to those already signed between the two countries in the field of public procurement, investment promotion and to avoid double taxation.

The commercial interchange between Chile and Uruguay during the period January to December 2015 totaled US $ 349 millionwith a 2% decrease compared to the same period of 2014 (US $ 356 million). Chilean exports to Uruguay in that period reached US $ 149 million.
At the same time imports from Uruguay during the period January to December 2015 reached US $ 200 million with a 15% growth compared to that obtained in the same period of 2014, imports reached US $ 173 million.

Source: Directorate General of International Economic Relations

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