Briefing - International Agreements in Progress: Modernisation of the trade pillar of the EU-Chile Association Agreement - 18-12-2024
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On 9 December 2022, 20 years after the signature of the EU-Chile Association Agreement in 2002, the EU and Chile reached an agreement in principle on a new EU-Chile Advanced Framework Agreement, which comprises modernised trade and political and cooperation pBriefing - International Agreements in Progress: Modernisation of the trade pillar of the EU-Chile Association Agreement - 18-12-2024
On 9 December 2022, 20 years after the signature of the EU-Chile Association Agreement in 2002, the EU and Chile reached an agreement in principle on a new EU-Chile Advanced Framework Agreement, which comprises modernised trade and political and cooperation pillars. Negotiations were launched in November 2017, based on a Council negotiating mandate, which was the first-ever to have been published prior to the start of negotiations. Although the trade pillar had operated smoothly and led to an expansion of bilateral trade in goods and services and investment, Chile and the EU agreed to broaden and deepen it to unlock untapped potential, break new ground and keep pace with new trade and investment patterns in a global competitive environment that has fundamentally changed with the growing global footprint of countries such as China. As the EU-Chile Advanced Framework Agreement (AFA) comprises provisions falling under both the EU's exclusive competence and shared competence with EU Member States, an EU-Chile interim trade agreement (iTA) was copied from the EU-Chile AFA to undergo an EU-only ratification process, while the EU-Chile AFA including its trade pillar will also have to be ratified by all EU Member States in accordance with their constitutional requirements. The former will expire, once the latter has entered into force. The agreements were signed on 13 December2023. On 29 February 2024, Parliament provided its consent to both. On 18 March 2024, the Council endorsed the EU-Chile iTA, which ends the EU-level ratification. Chile finalised the ratification of both agreements on 13 November 2024. Fourth edition. The 'International Agreements in Progress' briefings are updated at key stages throughout the process, from initial discussions through to ratification. Source : © European Union, 2024 - EP
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