Free trade agreement between Brazil and Chile opens market to US$ 11 billion of government purchases

The free trade agreement between Brazil and Chile, the internalization of which is on the agenda of the plenary session of the Chamber of Deputies this week, will contribute to boost trade flows, both in goods and services, and investments between the two countries.

Brazil and Chile have had a trade agreement in force since 1996 that eliminates import tariffs for all products sold by both countries. With the advancement and increase of bilateral relations, the new agreement signed in 2018 updates and defines new rules for trade and investment relations.

The treaty has already been approved by the Chilean government and parliament and needs the approval of the National Congress to enter into force in Brazil.

The new agreement, which is the subject of MSC 369/19 in Congress, defines rules that open the market for trade in services, protect bilateral investments, and open the government procurement market in both countries, expanding export opportunities for all companies.

Source: Comex do Brasil

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