Chile inks trade deal with Colombia

“The accord gives maturity to our bilateral relation and is of great significance for both countries”, said President Bachelet, who described the deal as “the most in-depth signed by any two Latin American countries”. President Uribe described Chile as “an integration example for the international economy. They haven’t stopped or been distracted by insipid ideological debates.”

Bilateral trade between the two countries grew from US$430m in 2001 to US$690m in 2005. Chilean investment in Colombia has also increased, to total US$3.3bn in the period 1990–2005. Chile already has trade accords with the USA, the EU, China and South Korea, among others, and is currently negotiating with Japan, India and Singapore.