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LatinNews Daily - 23 January 2024
In brief: Chile modernises Efta trade agreement
*Chile’s undersecretary of international economic relations, Claudia Sanhueza, has announced the successful conclusion of negotiations for a modernised free trade agreement (FTA) between Chile and the European Free Trade Association (Efta), comprising Iceland, Liechtenstein, Norway, and Switzerland. In a statement, Sanhueza noted that the modernisation of the deal came on the 20th anniversary of its entry into force. She said the modernised Efta agreements, together with recent progress on modernising the FTA between Chile and the European Union (EU), “will allow a relaunching of Chile’s trade positioning throughout the European continent”. According to Chile’s government, trade between Chile and Efta reached US$1.28bn in 2023, with an average yearly increase of 7.4% since the FTA first came into force in 2004.
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