Feb. 28, 2023.
The Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP, the so-called TPP11) entered into force in Chile on February 21. Chile became the 10th of 11 CPTPP signatories (Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam).
According to the Undersecretariat for International Economic Relations (SUBREI) of the Ministry of Foreign Affairs, Chile's exports to CPTPP countries in 2022 will account for 14% of total exports and 8.6% of total imports. Chile has existing bilateral free trade agreements (FTAs) or regional trade agreements (RTAs) with all CPTPP countries, but existing agreements with Canada, Japan, Vietnam, and Malaysia include items that are not subject to tariff elimination or reduction. The CPTPP will eliminate or reduce tariffs on 2,930 new Chilean products. By country, Canada has 100 products, Japan has 1,052, Vietnam has 1,115, and Malaysia has 663. The breakdown of items is 48% manufactured goods, 33% agricultural goods, and 15% fisheries and aquaculture products.
Specifically, to Canada, it is cheese, powdered milk, condensed milk, and chicken meat. Against Japan, beef, honey, fresh mandarin oranges and their pulp/jam, and tomato sauce. Versus Vietnam, cherries, beef, hazelnuts, walnuts, lemons, limes, grapes, avocados, raspberries. Versus Malaysia, beer, sparkling wine, bottled wine, pisco, etc.
Foreign Minister Antonia Urejola commented, "The entry into force of the CPTPP will give vitality to the Chilean economy, and we hope that it will benefit entrepreneurs by providing them with better opportunities to offer their products to the world."