Deal would eliminate tariffs on 97 per cent of exports
Chile is making progress on a trade deal with the UAE which seeks to strengthen bilateral trade by reducing or eliminating tariffs on Chilean products.
As reported in Digital Mining Magazine, last week, the draft Comprehensive Economic Partnership Agreement (CEPA) with the UAE was introduced in the Chamber of Deputies. The treaty was signed by President Gabriel Boric in July 2024, during his official visit to the country.
According to the government, it would allow 97 per cent of Chilean exports, including fruit, copper, wine and food, to access the UAE tariff-free. More than 1,300 exports from the agricultural, forestry, and livestock sectors will have their tariffs eliminated from the outset.
In total, it is projected that 98.1 per cent of Chilean exports will be tariff-free in the United Arab Emirates within three years, improving the competitiveness of Chilean products by entering the Emirati market under preferential conditions, while also favouring the attraction of investment and the diversification of export destinations.
The bill was officially submitted by the Government and must now be reviewed by the Foreign Relations Committee of the Chamber of Deputies, before moving to the Finance Committee as part of its first legislative process.
If approved, the agreement would position Chile as a strategic partner in the Middle East, opening the doors to one of the most dynamic markets with the greatest purchasing power in the world.
