The China Chile FTA Upgrade Protocol Will Take Effect From March.

The protocol between the government of the People's Republic of China and the government of the Republic of Chile on the revision of the free trade agreement and the supplementary agreement on trade in services in the free trade agreement was formally implemented in March 1st.

This is the second China's FTA upgrading agreement after the escalation of China ASEAN Free Trade Area. It is also the first FTA upgrade agreement signed by our country and Latin American countries.

The protocol will further explore the potential of bilateral economic and trade cooperation, enhance the level of trade liberalization and facilitation, and enrich the comprehensive strategic partnership between the two countries, which is of great significance to further deepen economic and trade cooperation between China and Latin American countries.

After the entry into force of the protocol, China will gradually abolish tariffs on some wood products within 3 years, and the wise side will immediately cancel tariffs on textiles, clothing, household appliances and sugar products. The two sides will implement zero tariff products to about 98%. The China Chile Free Trade Zone will become the highest free Trade Zone in China's trade in goods so far.

On the basis of the existing supplementary agreement on trade in services, the two sides further expand and enhance the number and level of service trade commitments.

China has further opened its business in more than 20 departments, such as commercial legal services, entertainment services and distribution, and the intellectual side has made a higher level of opening promise in more than 40 departments, including express delivery, pportation and construction.

In addition, the protocol also revised and supplemented the rules of origin, economic and technological cooperation, and added rules of electronic commerce, competition, environment and trade.

The China Chile FTA was signed in 2005 and implemented in 2006.

In order to promote cooperation between the two countries in the field of services and investment, the two sides signed a supplementary agreement on trade in services and investment in April 2008 and September 2012 respectively.

In November 2016, China and Chile launched negotiations on the escalation of the FTA and signed the protocol in November 2017.