The ninth Administrative Commission of the Free Trade Agreement (FTA) between Chile and Canada was held on June 2. The Undersecretary of International Economic Relations, Rodrigo Yáñez, and the Deputy Minister of International Trade of Canada, John Hannaford, participated in it. The meeting was also attended by Kendal Hembroff, General Director of Trade Policy and Global Affairs Negotiations of Canada, and Andrea Cerda, Bilateral General Director of the Sub-Secretariat for International Economic Relations (SUBREI).
Undersecretary Yañez and Deputy Minister Hannaford highlighted that Chile and Canada have had fruitful diplomatic relations for 80 years and that both countries had signed a Free Trade Agreement 25 years ago. This was the first FTA that Chile signed with a developed economy. In 2017, both countries signed the modernization of the agreement, adding chapters on trade, gender, and investments.
Trade between Chile and Canada has grown at an average annual rate of 5% since the signing of the agreement in 1996, an evolution that shows that the Free Trade Agreement between Chile and Canada has been widely successful for entrepreneurs from both countries.
Finally, the authorities highlighted that an important recent milestone in the close relationship between Chile and Canada occurred last May when both countries signed the first Memorandum of Understanding (MoU) for the creation of an intellectual property committee dependent on the Free Trade Commission between Chile and Canada.