Trade Agreement Between China And Chile

The ongoing relationship was built on pragmatism and non-interference. [6] China supported Chile`s sovereignty over Antarctica, and in return, Chile allowed the Chinese to build the Great Wall Research Station within Chile`s territorial pretensions. There was also an attempt by an arms-making joint venture between Norinco and FAMAE to reduce Chile`s military dependence on the United States. [6] Pinochet maintained his relationship with China. [7] Pinochet visited China in 1993 and 1997. [8] Chile was the first Latin American country to establish diplomatic relations with the People`s Republic of China until 15 December 1970. However, relations stagnated for decades, until the two countries signed a free trade agreement in 2005. It was China`s first free trade agreement with a Latin American country. Earlier, on 24 May 2015, China and Chile signed an agreement to avoid double taxation and agreed to establish an RMB clearing centre in Chile. This DBA was symbolic for China, as it was the 100th tax agreement signed by China with a foreign country. On July 14, 2017, Chile and China concluded the second round of negotiations aimed at deepening the Chile-China free trade agreement. The third round of negotiations took place from 28 to 30 August 2017 in Santiago, Chile. Chile and China signed the expanded and modernized free trade agreement on November 11, 2017 in Da Nang, Vietnam.

On Wednesday, October 24, 2018, the Chilean Senate approved the protocol amending free trade and the complementary agreement on trade in services signed between Chile and China. The updated agreement provides for even more tariff exemptions, which will now extend to 98% of all posts. In addition, existing tariffs on certain Chinese wood products will be abolished over a three-year period. The agreement was approved by the Chilean parliament and signed by the Chilean President on 9 and 21 August 2006 respectively. The Chile-China Free Trade Agreement entered into force on 1 October 2006. Chile was one of the first Latin American countries to begin trade and economic trade with China after the Chinese civil war. [2] Bilateral trade between the two countries began as early as 1961, when China established the China Trade and Export News Office. In 1965, it became the trade office of the China Council for the Promotion of International Trade.

[2] After the end of the Cold War and the fall of the Pinochet regime in 1990, bilateral relations continued, with the new Chilean government pursuing a free trade policy and supporting China`s entry into the World Trade Organization. [6] In November 2005, Chinese President Hu Jintao and former Chilean President Ricardo Lagos witnessed the signing of the China-Chile Free Trade Agreement.