Following more than two years of negotiations, a comprehensive association agreement between the EU, the member states and Chile was formally signed on 18 November 2002. The agreement comprises three main chapters: political dialogue, co-operation and trade. Respect for democratic principles, human rights and the rule of law are essential elements of the agreement. The promotion of sustainable economic and social development and the equitable distribution of the benefits of the association agreement are guiding principles for its implementation.
The EU-Chile association agreement is a mixed competencies agreement. The bulk of the trade chapter, the institutional framework and the trade-related co-operation provisions of the agreement have been provisionally applied since 1 February 2003. The remaining provisions will enter into force once all of the 15 member states of the EU have ratified the agreement in accordance with their domestic procedures. The motion for Ireland to ratify the agreement was referred to the Select Committee on Foreign Affairs on Tuesday, 27 May and the committee will report back by 17 June.
The elements of the agreement dealing with trade cover all aspects of trade relations. The FTA with Chile goes well beyond the respective WTO commitments, which has a high degree of trade liberalisation, which is underpinned by a set of strong and transparent rules. Trade with Chile in the year 2002 amounted to €73.781 including €36.645 in exports and €37.136 in imports.
Question No. 196 answered with Question No. 194.