Last Friday, December 9, negotiations on a new version of the existing trade agreement between the EU and Chile were concluded. We have summarized for you which innovations are coming and which facilitations companies can expect.

The new agreement is intended to intensify the trade relationship between the EU and the South American country. European companies will benefit in the future through:

– Duty-free treatment on 99.9 percent of exports to Chile

– Better access to raw materials, such as lithium and hydrogen

– Easier access to the services sector

– Equal treatment of investors – whether European or Chilean

– Easier participation in Chilean public tenders

In addition, the agreement is intended to ensure that small and medium-sized enterprises can nevertheless benefit from the new regulations by keeping the bureaucratic burden small.

When will the new agreement come into force?

The agreement will now first be legally reviewed by the EU and Chile respectively. The next step will be ratification. The new agreement is expected to enter into force in 2024, before the European elections.

Sources: dihk.de, European Commission