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EXPERIENCES OF LATIN EXPERIENCES OF LATIN AMERICAN COUNTRIES WITHIN AMERICAN COUNTRIES WITHIN
THE APEC REGION:THE APEC REGION:
THE CASE OF CHILETHE CASE OF CHILE
HERNAN GUTIERREZ B.HERNAN GUTIERREZ B.DirectorDirector
Economic and Trade DepartmentEconomic and Trade Department
Embassy of Chile – SeoulEmbassy of Chile – Seoul
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Strategic Orientation
Economic growth and equal opportunities Open & competitive economy, committed to free
trade Enforcement of international regulations Trade policy consistent with sound macro-economic
policies Investment promotion and protection Agreements to avoid double-taxation Institutional innovation
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Building Blocks of Chilean Foreign Trade Policy
Building Blocks of Chilean Foreign Trade Policy
Open economy Free flows of goods, S & I
Dependent on inter. trade More trade
Small country Rules & disciplines
Transparent/non corrupted Disciplines
World Wide WTO+ FTAWorld Wide WTO+ FTA
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A Three Tier Global Player A Three Tier Global Player
Multilateralism (WTO)
Regionalism
Geographic: APEC, FTAA, LAIA, Mercosur, Andean
Community
Issues: Cairns, G-20, FAN, FOF, etc.
Bilateralism
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Chilean Network of PTAsCanadaMexicoCentral America (5)EU (25)KoreaUSA EFTA (4)
VenezuelaColombiaEcuadorBoliviaMercosur (4)
• N. Z., Singapore & Brunei D.
• India
• China
• Peru
• Panama
• Ecuador
• Turkey
• Colombia
• Japan
• Bolivia
• Thailand
• Malaysia
NegotiatedNegotiated
NegotiatingNegotiating
StudiesStudies
FTAsFTAs
ECAsECAs
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18 Trade Agreements
54 countries
More than 80% of trade
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Objectives
• Commercial– Trade creation & reduction of trade diversion– Elimination of tariff peaks– Exports promotion– Enhancement of competition
• Economic– Rules & disciplines– Reduction of external economic vulnerability– Promotion of FDI
• Political– Dispute settlement– Differentiation in a context of international economic turbulence
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Institutional MattersInstitutional Matters- Transparency- Transparency- Objectives, excep. , final - Objectives, excep. , final
provisions, etc.provisions, etc.
DSMDSM
““Non trade issues”Non trade issues”- Intellectual Property Rights- Intellectual Property Rights- Labor- Labor- Environment- Environment
CoverageGoods
– Tariffs – NTM – Customs procedures
– Rules of origin Services InvestmentTemporary entryDisciplines
– Safeguards (Bi-Global)– AD/CVD – TBT/SPS– Competition
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Impact of FTAs on the Chilean Economy
Trade Economic theory supports FTAs with big and stable
economies New Strategic Partnership of like-minded countries Static & dynamic efficiency in resource allocation C-A dynamic:
elimination of tariff escalations diversification of exports
Competitiveness: Lower cost of intermediate goods and of capital goods economies of scale and of scope quality and learning process technological innovation, entrepreneurial spirit & strategic
alliances
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Impact of FTAs on the Chilean Economy
Investment and financial flows Attraction of FDI Deepening of financial markets
Macroeconomic Regime Stability, favorable for growth
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Market Access
Comprehensive FTA, no exceptions Consolidation of GSPs Elimination of tariff escalation Stand-still and liberalizing reviews Commitment to the non application
of subsidies in agricultural exports
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Comparative Analysisof Market Access in 3 FTAs
E.U. Korea USA
Immediate 85.1% 40.6% 87.0%
1-5 years 11.1% 2.9% 8%
6-10 years 3.5% 56.5% 0.6%
+ 10 years - - 4.5%
Excep. 0.3% - -
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Custom Procedures
Transparency and efficiency: Commitment to publish laws and norms Guarantee justice in procedures
Simplified procedures for the liberation of goods Facilitation of cargo transit for express delivery Use of risk analysis in procedures for
surveillance and automation of customs procedures.
Use of early resolutions at the origin, tariff classification and customs valuation
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Services
Trans-border trade & Local presence
Regulatory transparency
Negative list approach
Promotion of MRs of professional services
Link with chapters on investments, telecommunications, temporary entry of business people and telecommunications
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Investments
Transparency Predictability Judiciary certainty NT & MFN Norms to protect the foreign investor
Minimum level of treatment, in accordance to international law
Right to free transfer related to investment Compensation in case of direct or indirect expropriation Specific dispute settlement system between the investor
and the State that receives the investment
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Public Procurement
• NT
• Non-discrimination and transparent procedures
• Tendering and results adequately publicized
• Standardized time frames for bids
• Standardized rules for bidding processes
• Right to request a judicial authority in case of any violation of the former principles
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Labor
Commitment with domestic legislation
Core labor standards, defined by IOL:
Free trade unions Collective negotiations Forced labor Child labor Acceptable working conditions: minimum wages, maximum
hours of work, security and occupational health
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Intellectual Property Rights
Brands
Geographic indications
Dominion names and brands
Author rights Balance between authors, artists and
producers
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Dispute Settlement
Rules of procedures with defined stages and time frames
Agreement between the parties is favored (stage of consultations as well as in the stage of implementation)
Panel of independent specialist
High standards of opening and transparency in dispute settlement panels
Public and open hearings Public access to the legal presentation of parties Rights of third party interested in presenting their
viewpoints