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Brazil & Southern Cone - December 2018

Economic Highlights

Chile-Brazil FTA: On 21 November Chile’s President Sebastián Piñera and his Brazilian counterpart, Michel Temer, signed a new bilateral free trade agreement (FTA) which will promote electronic trade, exchange of services, participation of Chilean companies in public procurement in Brazil, and the elimination of telephony roaming charges, among other things. In a statement President Piñera said that Brazil is not only Chile’s main trade partner in the region, with bilateral trade worth over US$11bn, but also the main destination for Chilean investment which is worth more than US$31bn. According to the statement, in the first eight months of 2018, bilateral trade has increased by 21% to reach US$6.8bn. The new FTA expands a tariff pact agreed by the two countries in 1996.

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