Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
Chile continues to be a critical partner in promoting U.S. foreign policy goals throughout the region. In January 2010, Chile became the 31st member of the OECD and the first, and only, South American member at that time. Chile is also a member of the WTO and the Cairns Group. The U.S.-Chile Free Trade Agreement (FTA) entered into force on January 1, 2004 and was fully implemented on January 1, 2015. Chile has negotiated 26 trade agreements of which 25 have entered into force, covering 65 markets, representing 88 percent of the world’s GDP. These agreements include 17 FTAs (United States; Canada; Mexico; Central America, which includes Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua; Korea; EFTA which includes Iceland, Liechtenstein, Norway, and Switzerland; China; Panama; Australia; Colombia; Turkey; Malaysia; Vietnam; Hong Kong; Thailand, Uruguay, and Argentina); 3 Economic Association Agreements (European Union, which includes its 28 member countries; Japan; and P-4, which includes New Zealand, Singapore, and Brunei Darussalam); 6 Economic Cooperation Agreements (Bolivia, Cuba, Ecuador, Venezuela, Peru, and Mercosur, which includes Argentina, Brazil, Paraguay, Uruguay, and Venezuela); one Partial Association Agreement (India), and a Commercial Protocol with the Pacific Alliance. Pending ratification by the Congress is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP-TPP), to which Chile was a founding member and continues to seek with other Asia-Pacific members post-U.S. withdrawal.
This network of trade agreements has significantly improved market access for Chilean products and exports. In 2019, Chile sent 27.5 percent of its exports to China, 14.5 percent to the U.S., and 9.3 percent to Japan. The Chilean Vice Ministry for International Economic Relations has more information on the Chile’s trade agreements.