Canada–Chile Free Trade Agreement (CCFTA) is a trade agreement between

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

and

Chile Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...

. It was signed on December 5, 1996, in

Santiago, Chile Santiago (, ; ), also known as Santiago de Chile, is the capital (political), capital and largest city of Chile as well as one of the largest cities in the Americas. It is the center of Chile's most densely populated Regions of Chile, region, t ...

and came into effect on July 5, 1997. Tariffs on 75 percent of bilateral trade were immediately eliminated. It was Canada's first free trade agreement with a Latin American nation (other than Mexico), and was Chile's first full free trade agreement. Over the first decade, trade between Canada and Chile increased more than 300%, with the trade of goods rising from $718 million in 1996 to $2.7 billion in 2010. Bilateral service trade increased to $164 million by 2005. Canadian investments in Chile reached $13.3 billion in 2010, and Canada has been the largest source of new investment in Chile. In 2012, Canadian prime minister

Stephen Harper Stephen Joseph Harper (born April 30, 1959) is a Canadian politician who served as the 22nd prime minister of Canada from 2006 to 2015. Harper is the first and only prime minister to come from the modern-day Conservative Party of Canada, ...

and Chilean president

Sebastián Piñera Miguel Juan Sebastián Piñera Echenique OMCh (; born 1 December 1949) is a Chilean billionaire businessman and politician who served as president of Chile from 2010 to 2014 and again from 2018 to 2022. The son of a Christian Democratic polit ...

announced the expansion to the CCFTA, with a financial services chapter in which Canadian financial institutions will enjoy preferential access to the Chilean market and can compete on a level playing field vis-à-vis their competitors. This financial services chapter came into effect in October 2013. In 2015, Prime Minister

Justin Trudeau Justin Pierre James Trudeau ( , ; born December 25, 1971) is a Canadian politician who is the 23rd and current prime minister of Canada. He has served as the prime minister of Canada since 2015 and as the leader of the Liberal Party since 2 ...

tasked his Minister of International Trade,

Chrystia Freeland Christina Alexandra Freeland (born August 2, 1968) is a Canadian politician serving as the tenth and current deputy prime minister of Canada since 2019 and the Minister of Finance (Canada), minister of finance since 2020. A member of the Libe ...

, with expanding the CCFTA in her mandate letter.

History of trade balances

Amounts in millions of Canadian dollars.

References

International Trade Centre The International Trade Centre (ITC) () is a multilateral agency which has a joint mandate with the World Trade Organization (WTO) and the United Nations (UN) through the United Nations Conference on Trade and Development (UNCTAD). The he ...

, which identify customs tariffs, tariff rate quotas, trade remedies, regulatory requirements and preferential regimes applicable to products, including Canada–Chile Free Trade Agreement).
Rules of Origin Facilitator
(A free tool jointly developed by

World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and e ...

and

World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. The WCO works on customs-related matters including the development of international conventions, instruments, and tools on topics su ...

which enables traders to find specific criteria and general origin requirements applicable to their products, understand and comply with them in order to be eligible for preferential tariffs. The tool is very useful for traders who want to gain benefit from Canada–Chile Free Trade Agreement). Free trade agreements of Chile Free trade agreements of Canada 1996 in Chile Treaties concluded in 1996 Treaties entered into force in 1997 Canada–Chile relations 1996 in Canadian law Presidency of Eduardo Frei Ruiz-Tagle {{Treaty-stub

History of trade balances

See also

References

External links