CHILE

On August 13, the Senate Finance Committee began to discuss the Comprehensive and Progressive Trans-Pacific Partnership Treaty (CPTPP) approved by the Foreign Relations Committee last week.  The Minister of Finance, Felipe Larraín, was invited to the session and presented the Executive’s view on the matter. The committee will continue debating the treaty next week.

The purpose of this initiative is to ratify the Trans-Pacific Association agreement, a macro-commercial deal to promote greater market openness between Asia and America. The treaty contains provisions to promote e-commerce, market access, financial services and intellectual property. 

Larraín pinpointed benefits such as the opening and diversification of markets and greater international integration. In addition, he said that this would mean the adoption of a single certificate of origin, eliminate agricultural export subsidies, and avoid non-tariff barriers to international trade among member countries. The minister stressed that their objective is to focus on SMEs so as to ensure the best possible agreement for them.