The Czech
Presidency has managed to negotiate a political and trade agreement between the
EU and Chile; it is one of the most ambitious and advanced agreements
negotiated by the European Union. As part of the trade agreement, the deal will
allow investment and trade on equal terms, regardless of whether traders are
from the EU or Chile, deepen relations, eliminate 99.9% of tariffs and other
charges, and make it easier for exporters to trade digital services. EU exports
to Chile are expected to increase by €4.5 billion.
The agreement
also brings benefits in political and strategic terms. The Minister of Industry
and Trade Síkela says, "Chile is an important trade and strategic partner,
and we must do everything we can to develop our trade relations with such
actors. In addition, Chile is also an important country in terms of its
reserves of critical raw materials, especially lithium, which is essential to
ensure the European Union's resilience in terms of trade and energy".
As part of its
Presidency of the EU Council, the Czech Republic aims to diversify trade flows
in the EU to reduce dependence on a few countries and be more flexible in the
event of crises. The Czech Presidency has made this one of its priorities and,
according to Minister Síkela, will continue to pursue this agenda after its
presidency ends.
Prepared by foreign office CzechTrade Belgium
Source: MPO.cz