Free Trade Agreement Between Hong Kong China And Chile

The agreement will help Hong Kong companies penetrate the Chilean market, which offers potential opportunities as an emerging market as a market as such, as well as opportunities for access to the South American region. In addition, the Hong Kong Free Trade Agreement will be extended to the U.S. region, in addition to our existing link to the Asia-Pacific and Europe regions. On November 18, 2016, Chile and Hong Kong-China signed a complementary investment agreement that complements their free trade agreement in force since 2014. And Hong Kong is not alone in strengthening its 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, the two nations have signed a free trade agreement that allowed Chilean exports to bring more than $20 billion to the Middle Kingdom in 2013. A joint feasibility study conducted by Hong Kong and Chile in July 2009 concluded that strengthening 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 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 on Labour Cooperation to address work issues of common interest. Chile was Hong Kong`s third largest trading partner in Latin America.

Bilateral merchandise trade between Chile and Hong Kong amounted to HK 17.1 billion in 2019. In services trade, Chile was our third largest trading partner in Latin America, with two-way services trade of HK 1.3 billion in 2012. Information sheet on Hong Kong`s trade relations with Chile The agreement is comprehensive and high quality and covers trade in goods and services, investment and other related areas. It is fully compliant with the provisions of the World Trade Organization. The two sides agreed to continue negotiating a broader agreement on investment promotion and protection to improve investment flows between the two economies. From 14 to 15 July 2009, Chile and Hong Kong presented the final report of the Joint Study Group to assess the feasibility of a free trade agreement. Negotiations between the two countries began with the first round of negotiations in Hong Kong, China, between January 30 and February 2, 2012. The second round of negotiations took place in Santiago, Chile, from 11 to 15 April 2012. On 2 August 2012, Chile and Hong Kong, China, concluded the free trade negotiations. 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 The first Hong Kong agreement signed with a country outside Asia or Europe. Its broad provisions concern bilateral trade in goods and services as well as investments and include obligations that go beyond the obligations that both parties require to be members of the World Trade Organization.

The free trade agreement between Chile and Hong Kong, China, came into force on 29 November 2014. Bond exchange through the negotiation of an investment agreement The agreement also contains provisions to promote competition, facilitate access to public procurement, streamline customs procedures, promote environmental protection and establish a comprehensive dispute resolution mechanism. Both sides have announced their intention to begin negotiations on a bilateral investment treaty (ILO) after the free trade agreement enters into force. Complementary Agreement on Trade in Services of the China-Chile Free Trade Agreement (English version – Chinese version) China`s Specific Commitments Calendar (English version – Chinese version) The timetable for Chile`s specific commitments (English version – Chinese version) In November 2005, Chinese President Hu Jintao and former Chilean President Ricardo Lagos witnessed the signing of the free trade agreement between China and Chile.