The second round of negotiations for a Free Trade Agreement between Brazil and Chile was held in Santiago on August 7-10. The negotiations were launched on the occasion of the visit of Chilean President Sebastián Piñera to Brasilia last April 27.
At the Second Round, the chapters on Competition Policy, Good Regulatory Practices and Micro, Small and Medium Enterprises and Entrepreneurs were completed. Substantial progress has been made in the negotiations on the other chapters of the future agreement: trade in services; e-commerce; telecommunications; sanitary and phytosanitary measures; trade facilitation; technical barriers to trade; economic-trade cooperation; trade and gender; trade and labor matters; trade and environment; institutional issues and dispute settlement.
The Free Trade Agreement negotiations reflect the Brazilian government's intention to strengthen the already dense relations with Chile and which are part of the ongoing initiatives to bring the MERCOSUR countries closer to the Pacific Alliance.
The III Round is scheduled for September 12-14, in Brasília.
Chile is Brazil's second largest trading partner in South America and an important destination for Brazilian investments in the region. In 2017, bilateral trade totaled US$ 8.5 billion, an increase of 22% over the same period in the previous year. From January to July 2018, trade between the two countries totaled US$ 5.55 billion and represented an increase of 12.44% over the same period in 2017. Brazil is Chile's largest trading partner in South America and main destination of Chilean investments abroad, with a stock of US$ 31 billion.