On 8-9 March 2017, in Buenos Aires, the Argentine Republic and the Republic of Chile conducted the 1st Round of Negotiations to broaden and strengthen existing trade agreements.
The strengthening of existing trade agreements between Argentina and Chile is a political decision made by presidents Mauricio Macri and Michelle Bachelet, who confirmed in their last meeting their willingness to unite efforts to afford continuity to the integration process between both countries and to work jointly to enhance productive development in the region.
This Round took place within the framework of commitments undertaken during the 8th Binational Meeting of Ministers held in Buenos Aires on 14-15 December 2016, at which it was agreed to maximize the potential of the economic and trade relationship between Argentina and Chile, through the negotiation of an ambitious trade liberalization agreement, so as to make further progress on bilateral integration, encourage investments aimed at strengthening value chains between both countries, and foster intensive market exploitation.
During this first round, the negotiating teams worked on previously exchanged text proposals and discussed the negotiation aims and aspirations that Argentina and Chile share, in order to define methodological and procedural aspects of future negotiation rounds.
The reason for broadening and strengthening trade agreements between Argentina and Chile is the need to have a cutting-edge Agreement with which to consolidate the bilateral trade relationship and to update the existing legal framework by introducing trade regulations which provide businesspeople of both countries with greater certainty and new opportunities, with a view to facilitating and boosting trade and reciprocal investments.
The negotiation will entail incorporating new disciplines into existing agreements, namely: Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, Competition Policy, Government Procurement, Services, Investment and Institutional Aspects, Gender and Trade, and Environment.
Both sides have agreed on a work plan to further the negotiation process. The next meeting will be held in Santiago, Chile, in May 2017.
Press release No. 064/17
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