Chile was Hong Kong`s third largest trading partner in Latin America. Bilateral merchandise trade between Chile and Hong Kong amounted to $17.1 billion in 2019. In terms of trade in services, Chile was our third largest trading partner in Latin America, with bilateral trade in services amounting to HK$1.3 billion in 2012. Factsheet on Hong Kong`s trade relations with Chile The agreement will help Hong Kong companies penetrate the Chilean market, which offers potential opportunities as an emerging market as an emerging market and opportunities for the South American region. It will also expand Hong Kong`s network of free trade agreements to the U.S. region, in addition to our existing asia-pacific and Europe link. While these flourishing trade relations have not yet seen adequate volumes of Chinese foreign direct investment in Chile, the South American country is now aggressively encouraging its investment potential through infrastructure projects and bilateral agreements, as presented in this article. Hong Kong is not alone in strengthening relations with Chile. Chile`s trade with mainland China has boomed in recent years thanks to Chinese demand for Chilean copper, fruit, wine and seafood. Since 2005, there has been a free trade agreement between the two nations, which helped bring more than $20 billion in Chilean exports to the Middle Kingdom in 2013. The agreement is comprehensive and of high quality and covers trade in goods and services, investment and other related areas.
It is fully in line with the provisions of the World Trade Organisation. The two sides agreed to continue negotiating a broader agreement on investment promotion and protection to improve investment flows between the two economies. Supplementary Agreement on Trade in Services of the Free Trade Agreement between China and Chile (English version + Chinese version) List of China`s specific commitments (English version + Chinese version) Chile`s schedule of specific commitments (English version + Chinese version) In November 2005, Chinese President Hu Jintao and former Chilean President Ricardo Lagos witnessed the signing of the China-Chile Free Trade Agreement. The agreement entered into force in October 2006. Under the agreement, China and Chile will gradually extend the duty-free regime to 97% of products within ten years. The two countries will also strengthen exchanges and cooperation in areas such as economy, SMEs, culture, education, science and technology, and environmental protection. On April 13, 2008, Chinese President Hu Jintao and Chilean President Michelle Bachelet attended the signing of the Additional Agreement on Trade in Services of the Free Trade Agreement between the Government of the People`s Republic of China and the Government of the Republic of Chile in Sanya, Hainan Province. On September 7, 2012, the governments of Chile and Hong Kong signed a free trade agreement at the APEC meeting in Vladivostok, Russia. SHANGHAI – The free trade agreement (FTA) signed between Hong Kong and Chile will enter into force on October 9, according to an official announcement.
The agreement, originally signed in September 2012, is Hong Kong`s first to have been signed with a country outside of Asia or Europe. Its far-reaching provisions include bilateral trade in goods and services and investment, and include commitments that go beyond the commitments necessary for both parties` accession to the World Trade Organization. A joint feasibility study conducted by Hong Kong and Chile in July 2009 concluded that improving trade and economic relations between Hong Kong and Chile would have a positive impact on both economies. After three rounds of negotiations, the Free Trade Agreement (FTA) between Hong Kong and Chile was signed on 7 September 2012. In addition to the Free Trade Agreement, Hong Kong and Chile have signed a Memorandum of Understanding (MoU) on Labour Law Cooperation to address labour issues of mutual interest. . . .