LatinNews Daily - 17 October 2022

In brief: Chile’s Boric moves on Trans-Pacific Partnership ‘side letters’

*Chile’s leftist President Gabriel Boric has said that the governments of Mexico and New Zealand have accepted the ‘side letters’ he sent in relation to modifying the investor-State dispute resolution mechanisms stipulated in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement. This comes after Chile’s senate approved the CPTPP, also known as the TPP-11, on 11 October, over three years after its ratification by the lower chamber in April 2019 under the previous right-of-centre government led by former president Sebastián Piñera (2010-2014, 2018-2022). Boric, who voted against the initiative in 2019, sent a series of side letters to some of the member countries, which aim to modify the compulsory Investor State Dispute Settlement (ISDS) chapter before he ratifies the agreement. In an interview with local radio station Radio Sol in the northern region of Antofagasta, Boric said the letters, which are expected to delay the treaty’s enactment, had been accepted by Mexico and New Zealand, and that talks were “well advanced” with Peru. Boric also said Chile’s government had “an interesting conversation” with Australia and Vietnam. The other CPTPP members are Brunei, Canada, Japan, Malaysia and Singapore.

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