EU-Chile Interim Trade Agreement enters into force

The EU-Chile Interim Trade Agreement (ITA) has entered into force following the completion of Chile's ratification process. The ITA, which was signed in December 2023, is of key geopolitical importance. It will boost the competitiveness of businesses on both sides, while providing a shared platform for the development our net-zero economies.

This work will be further underpinned by ongoing initiatives under the Global Gateway, such as the development of critical raw materials value chains for lithium and copper, and the production of green hydrogen in Chile.

The agreement will enable the EU and Chile to cooperate as like-minded, lasting partners on global challenges such as the de-risking of supply chains and the fight against climate change. In addition, it will boost the EU-Chile privileged partnership and put shared values at the core of bilateral relations, including major commitments and dedicated provisions on sustainable trade and gender equality.

Trade and Economic Security Commissioner Maroš Šefčovič (pictured) said: “The European Union continues to create effective partnerships around the world, supporting both our economic growth and our economic security. I warmly welcome the entry into force of our Interim Agreement with Chile - the third biggest EU trading partner in Latin America. I am confident that economic operators on both sides will benefit from this agreement from day one. It will help us diversify our supply chains, while creating new opportunities for our businesses, including SMEs. With this deal, we will take economic relations between the EU and Chile to an even higher level, and send a strong signal of co-operation between like-minded, trusted partners in times of geopolitical uncertainty.”

More information is available in the press release online.

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