Vietnam-Chile Free Trade Agreement

October 13, 2021

In January 2008, Chile and Vietnam agreed to open negotiations for a free trade agreement including, inter alia, market access, investment and services. The first round of negotiations took place in Santiago in October 2008. The second and third rounds of negotiations took place in Hanoi in May and August 2009. The fourth round of negotiations was held in Santiago on 28 and 29 September 2009. The fifth round took place from 25 to 27 November 2009. The sixth round took place on 02 and 3 August 2010 in Hanoi. The seventh round took place on 11 November 2010 in Santiago. Chile and Vietnam concluded free trade negotiations in the eighth round held in Hanoi from 16 to 18 June 2011. On November 12, 2011, Chile and Vietnam signed a free trade agreement at the APEC Leaders` Meeting in Honolulu, Hawaii, USA in 2011. The Contracting Parties shall apply the provisions of Article VII of the GATT 1994 and the WTO Agreement implementing Article VII of the GATT 1994 fixing the customs value of the goods traded between the Contracting Parties. The full text of the agreement can be found and downloaded below: the Parties should cooperate in the areas of standards, technical rules and conformity assessment procedures in order to facilitate exchanges between the Parties, in particular to identify bilateral initiatives on standards, technical rules and conformity assessment procedures tailored to specific issues or sectors. Such initiatives may include: the Parties reaffirm their existing rights and obligations towards one another under the WTO Agreement and other agreements to which both Parties are parties.

Unless otherwise provided, this Chapter shall apply to trade in goods of a Contracting Party. With 14 chapters and 108 articles and 8 annexes, the Vietnam-Chile Free Trade Agreement covers only trade in goods. The free trade agreement contains, for example, provisions to facilitate market access, rules of origin, sanitary and phytosanitary measures, technical barriers, protective measures, etc. In 2010, Chilean exports to Vietnam amounted to $231 million, an increase of 114 per cent over the previous year, while imports recorded $107 million, a decrease of 15 per cent. During the same period, trade between the two countries increased by 40 percent, reflecting a significant increase in Chilean exports, mainly due to the value of copper cathodes to the country (from $38 million in 2009 to $139 million in 2010). The rule of origin of the agreement is quite simple to respect, most products only have to come from member states (Vietnam or Chile) representing at least 40% or changes from their initial level 4 heading to obtain favourable tariff treatment. This Chapter shall apply to all sanitary and phytosanitary measures taken by a Party which may directly or indirectly affect trade between the Contracting Parties. The two countries have deepened their trade and economic relations[4], which are now much deeper than the usual trade relations between two countries, as welcomed by the Chilean ambassador to Vietnam, Claudio de Negri. [5] The objectives of this Chapter are to increase and facilitate trade by improving the implementation of the TBT Agreement, removing unnecessary technical barriers to trade and strengthening bilateral cooperation. . . .

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