Chile expressed its interest in concluding a trade agreement with the EAEU Member States

 

On September 26 in Moscow, at the headquarters of the Eurasian Economic Commission (EEC) the 2 session of the Joint Commission on cooperation between the EEC and the Government of Chile was held. The meeting was co-chaired by the Board Member – Minister in charge of EEC integration and macroeconomics Tatyana Valovaya and Deputy Minister for Foreign Affairs on trade of the Republic of Chile Andres Rebolledo.

The event was attended by representatives of official

and business communities of the Member States of the Eurasian Economic Union and Chile, officials and experts of the Eurasian Economic Commission.

“Today, the EEC and the Government of the Republic of Chile have identified a range of issues that need to be given particular attention. And the format of the Joint Commission is intended to complement the bilateral tracks of cooperation of the Republic of Chile with the Union Member States,” said Tatyana Valovaya.

The Deputy Minister of Foreign Affairs on trade of the Republic of Chile Andres Rebolledo stressed that interaction with the EEC allows us to be aware of key innovations that occur in the single market of the Eurasian Economic Union and more freely and efficiently develop economic cooperation. “We are very satisfied with the results obtained at the meeting today. For Chile, cooperation with the Union countries is a priority, and we would like to move in that direction far enough. Our goal is to develop relations with the Eurasian Economic Union in such a way so as to make possible the conclusion of a trade agreement,” said Mr. Rebolledo.

In her turn, the EEC Minister noted that “this agenda has long been suggested by representatives of Chile. We are attentive to such interest. But it is a serious decision, which has to be taken by all five Member States.” At the same time, such interaction format as a working group has proved to be very effective today. As it gives the opportunity “to discuss the most topical issues that could create conditions for the positive consideration of trade cooperation between Chile and all five EAEU Member States,” noted Tatyana Valovaya.

Co-Chairs of the Joint Commission have evaluated the current state of mutual trade between the Eurasian Economic Union and Chile, noting that despite some reduction of dynamics in 2015, trade volumes over the past five years almost doubled from initial 375 million US dollars to 775 million US dollars . It was also emphasized that the imbalance in bilateral trade, when imports of the EAEU from Chile are significantly less than exports, should be eliminated. “Chile exports almost 10 times more than it buys in the EAEU Member States. I am very happy that my Chilean colleagues understand the importance of the issue and the need to find solutions,” noted the EEC Minister.

According to the head of the Chilean delegation, Chile and the EAEU Member States are countries with complementary economies. “It seems to us that the potential for the development of relations in this sense is very high. It is clear that there are products which are manufactured in the Union and do not exist in Chile. Our agriculture is developing very rapidly today. We need fertilizers, technologies, machinery, automobiles. Those are the products that can be imported from the EAEU Member States. Chile also is one of the countries with a shortage of energy resources,” said Mr. Rebolledo.

The main advantages of the Eurasian Economic integration for the development of trade and economic cooperation between the Union States and the Republic of Chile were presented at the meeting, particularly in the areas of customs administration, technical regulation, sanitary, phytosanitary and veterinary measures, movement of services and capital. The capabilities and potential of new members of the Eurasian Economic Union – Armenia and Kyrgyzstan – were specifically highlighted. At the end of the visit to Moscow, the delegation of Chile is planning to visit several Union States.

The co-chairs of the Joint Commission supported the development of the dialogue between representatives of private business of Chile and the Eurasian Economic Union based on the capabilities of the EAEU Business Council, which was started in May 2016.

As a result of the meeting a joint Protocol was signed. The document contains a number of orders aimed at improving interaction within the framework of the Joint Commission. It also deals with the development of a plan of joint actions for 2017-2018.

The two parties also agreed to hold the 3rd meeting of the Joint Commission

in the Republic of Chile in 2017. It is expected that the event can be attended by representatives of the business community of the Union countries, whose representation in Chile was recognized during the meeting as insufficient.

For Reference

The Joint Commission on cooperation between the EEC and the Government of Chile was established in accordance with the Memorandum of Understanding between the EEC and the Government of the Republic of Chile, signed on the sidelines of the St. Petersburg International Economic Forum on June 19, 2015.

The first executive meeting of the Joint Commission was held on October 2, 2015 in Santiago.

Source:

http://www.eurasianweek.org/en/news/chile-expressed-its-interest-in-concluding-a-trade-agreement-with-the-eaeu-member-states/

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