Governments of Paraguay and Chile close new trade agreement

RIO DE JANEIRO, BRAZIL – The agreement seeks to establish higher standards in the labor, social and environmental areas, providing predictability to trade flows by updating and clarifying specific rules in order to facilitate them.

The 20-chapter agreement covers several fields and areas such as: trade and environment, trade and labor issues, e-commerce, trade in services, trade facilitation, regulations, micro, small and medium-sized companies, trade and gender, global value chains, and other aspects related to trade and technology.

These agreements are key and of great relevance in strengthening economic relations between the two countries. In the last 10 years, trade with Chile and paraguay has been growing at an annual rate of 3%. In turn, exports between the two countries have grown at an annual rate of 4% and imports at an average of 3%.

The Andean country reported that in 2020 alone, a total of 505 Chilean companies exported US$188 million to Paraguay. Among the products in this trade exchange are masks, cigarettes, copper, medicines and wines.