Chile is a promising market for a wide range of U.S. goods and services. The symbolic importance of the Chile-USA Free Trade Agreement (FTA) far outweighs the economic size of Chile. This agreement establishes the first FTA negotiated in Latin America since the North America Free Trade Agreement (NAFTA) in 1993. The approval of FTA emphasizes the U.S. commitment to free trade in the region and set the stage for future FTAA negotiations covering the Western Hemisphere.
As one of the most dynamic and promising markets in the region, Chile holds a commercial influence in South America due to the energy and professionalism of its entrepreneurs, the transparency of its regulation and the predictability of its decision makers. Chile’s market-led reforms and an increasingly diversified economy offer a viable option for U.S. exporters operating in a wide range of industries.
While the U.S.- Chile FTA Agreement does involve elimination of tariffs for US products to Chile, non-tariff provisions may have an even greater impact by further strengthening an already open business climate between the two countries. Specific obligations in areas such as intellectual property, services, investment, temporary entry of businesspersons, and telecommunications may serve as model for future trade agreements.
To learn more about this FTA, please visit http://www.export.gov/fta/chile/index.asp, your one-stop shop for FTA related information. At this site you will find answers to Frequently Asked Questions, access to the text of the agreement, and information on how products qualify to take advantage of the Agreement.