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Chile and Korea

Chile and Korea. Chile. Chile`s trade policy Integration to the world FTAs Chile - Korea The future. Chile’s Trade Policy. Key elements Open and fair market Dependant on international trade Small country Candid country. Open and Fair Market. Domestic No subsidies No NTB

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Chile and Korea

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  1. Chile and Korea

  2. Chile • Chile`s trade policy • Integration to the world • FTAs Chile - Korea • The future

  3. Chile’s Trade Policy • Key elements • Open and fair market • Dependant on international trade • Small country • Candid country

  4. Open and Fair Market • Domestic • No subsidies • No NTB • No distortions on production • Internationally • Low and single tariff rate, across the board (9%) • National treatment • Automatic import licensing

  5. Dependant on International Trade • + 50% of GDP = x + m • + 75% of GDP = x + m + s • Primary products • Mining • Forestry • Fruits & vegetables • Seafood

  6. Small Country • Chile = 0.3% of international trade • Rules and disciplines: • Goods: tariff, NTB, customs, safeguards, A/D and CVD, TBT, SPS, etc. • Services: all sectors • Intellectual property rights • Paste/composite: investment, competition, transparency, business visas, etc. • Disputes settlement procedures

  7. Candid Country • Islander mind: formal, shy, inward looking, etc. • Legalistic culture • We do not do tricks

  8. Chilean Integration to the World • Unilateral openness • Multilateralism • Bilateralism

  9. Unilateral Openness (UO) • Elimination of non-tariff barriers • Lowered tariff (today 9%) • Open to foreign investment

  10. Multilateralism • GATT (founding member) • Tokyo Round: 35% bound tariff • Uruguay Round: 25% bound tariff, TRIMS, TRIPS and GATS • WTO • FTAA (2005) • APEC (2010) • OECD (observer)

  11. Bilateralism: conditions • Comprehensiveness • Beyond WTO • High standards in disciplines • No exceptions in goods • Distorted products: a.i. Oil and Coffee

  12. Bilateralism: types of FTAs • 1st gener. = some • 2nd gener. = most • 3rd gener. = most + some rules • FTA = goods, services, investment, IPR, rules & disciplines Economic Complementation Agreement (LAIA) GATT Art. XXIV GATS Art. V

  13. Bilateralism: Chilean FTAs • FTA: Canada - Mexico - C.America - Venezuela - Colombia - Ecuador - Bolivia - Peru - Mercosur • Current negotiations: UE - Korea - EFTA - NZ/Singapore (observer) - U.S./Singapore (informed) • Perhaps!: U.S. - Australia - NZ - Singapore - India - Japan

  14. Chilean Trade vis-a-vis FTAs

  15. FTA Chile-Korea • September 1999 (Auckland) negotiation are announced. • Three formal meetings: Dec 1999, March and May 2000 • Terms of reference: • Comprehensiveness • Maximum/total liberalization • Transparency (negotiation and implementation) • Meetings: Alternatives venues (other) and frequency • English

  16. Interest of Chile I • Market access • Mining • Forestry • Fruits & vegetables • Seafood • Good business for both (complimentary ec.) • Disciplines

  17. Interest of Chile II • Korean investment • Systemic interest (International arquitecture) • APEC • International trend after Seattle • Reinforce free trader image

  18. Next year situation in Chile • Bilateral negotiations: • European Union • EFTA • Mercosur • Colombia? • U.S.? • P-5 or P-3? • Plurilateral negotiation: FTAA • Multilateral negotiation: WTO round

  19. Present situation • Waiting for Korean response • Possible next meeting Dec. 12-15 Seoul. • “Loosing face”: diminishing support because of the delay. • Ergo: a deadline is needed (31.March.01)

  20. “Partners” “Dancing together” Chile Korea

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