RIO DE JANEIRO, BRAZIL – “The agreement reached represents an institutional mark that reaffirms the strategic relationship between Paraguay and Chile. The commercial exchange between the parties in 2020 reached US$879 million,” the Paraguayan Foreign Ministry stressed.
In addition, it stated that this type of negotiation rounds allows strengthening and boosting economic, trade and investment relations between Paraguay and Chile, which ultimately contributes “to improve its citizens’ quality of life.”
Likewise, the agreement “will provide greater predictability to trade flows with clear and updated rules on sanitary and phytosanitary measures, technical regulations for industrial goods, regulations to ease trade and free transit, and also innovative and non-discriminatory regulations for e-commerce suppliers.”
Market access for its service providers in key sectors was also negotiated in order to enhance the economic relationship. In addition, efforts to increase the share of companies in global value chains and the participation of micro, small and medium-sized enterprises and entrepreneurs (MSMEs) were also discussed.
“The agreements seek to raise environmental, labor and social standards in trade and investment, which will promote the quality of the products and services exchanged,” it said.
Four negotiation rounds were held and the legal review of the agreed texts will now begin so that the Agreement may be signed “as soon as possible.”
The last session was attended by the chief negotiators of both countries, the Director General of Economic Policy of the Paraguayan Ministry of Foreign Affairs Enrique Franco, and the Director General of Bilateral Economic Affairs of the Chilean Ministry of Foreign Affairs Felipe Lopeandía.