On February 5, 2019, the modernized Canada-Chile Free Trade Agreement (CCFTA) came into force, which supports an open, inclusive and rules-based trading environment. The CCFTA is the cornerstone of Canada`s strong trade and investment relationship with Chile. Since its launch in 1997, the CCFTA has brought benefits to both countries. Bilateral merchandise trade has almost quadrupled since the Canada-Chile Free Trade Agreement came into force, reaching $2.9 billion in 2017. At the end of 2017, the share of Canadian investment in Chile was $17.1 billion, making Chile the leading target for direct investment in South and Central America. In 2017, Canada and Chile signed amendment agreements to modernize the CCFTA and support an open, inclusive and rules-based trading environment. The agreement establishes a high level of intellectual property rights protection (Article 46), covering areas such as patents, trademarks and copyrights, and, in some areas, goes beyond what is provided for in the WTO agreement on trade-related intellectual property rights (TRIPS) and other international agreements and contracts. The chapter on competition (Articles 72-80) deals mainly with cooperation, notification, consultation and the exchange of non-confidential information between Chilean competition authorities and the relevant authorities of EFTA Member States. Consultations are included when important interests of Chile or an EFTA Member State may be affected; However, consultation does not affect the full freedom of decision of the competent authority. With respect to so-called enterprises and companies to which special or exclusive rights have been granted, the parties ensure that no measures are adopted or maintained to distort the trade in goods or services between the parties to a measure contrary to the interests of the parties and that these undertakings are subject to competition rules. , to the extent that the application of these provisions does not impede the implementation of these provisions.
, in law or in fact, the particular tasks entrusted to them. The trade in services chapter (Articles 22-31) deals with trade in services, including a separate annex on telecommunications services (Annex IX). The agreement applies to the four types of supply (delivery) of a service within the meaning of the GATS. The agreement is aimed at all service sectors. However, it was agreed that, in the case of financial services, the possible coverage and scope of liberalization would be reviewed two years after the agreement came into force. As in the GATS, the positive lists of specific commitments of each party are an integral part of the agreement. These lists are reviewed every three years, or more frequently, to reduce or eliminate the bulk of discrimination between parties for trade in services under this section on services. The free trade agreement includes a meeting of the trade coordinator and trade subcommittees that meet annually to verify the use of the free trade agreement and other issues related to the free trade agreement. The EU and Chile are negotiating the modernisation of the trade component of the existing EU-Chile Association Agreement so that it can continue to address all areas of EU-Chile trade and investment relations. Chile is one of the most active Latin American countries in bilateral trade agreements The Free Trade Agreement The Free Trade Agreement also provides favorable access to U.S. service providers and guarantees of protection for U.S. investors and Chilean-registered copyrights, trademarks and patents.
In addition, Chile has opened important public procurement contracts for U.S. bidders. If you have any questions or comments on this free trade agreement or on environmental and labour cooperation agreements, we would like to hear from you. Please contact World Affairs Canada at: The U.S.-Chile Free Trade Agreement (FTA) came into effect on January 1, 2004. The free trade agreement