Brazil, Chile negotiate new free trade deal

The goal now is to overcome regulatory barriers

Published in 27/04/2018 - 15:31 By Yara Aquino and Débora Brito - Brasília

After a meeting held today (Apr. 27) with Chilean President Sebastián Piñera, Brazilian President Michel Temer said that the two heads of state talked about Piñera’s proposal to strike a free trade deal with Brazil. Temer described the agreement as “ambitious” and said that Piñera’s visit has led to strides in the economic arena.

Presidente Michel Temer, oferece almoço ao presidente do Chile, Sebastián Piñera, no Palácio Itamaraty
Brazil, Chile negotiate new free trade deal - José Cruz/Agência Brasil

“We’ve accepted the proposal of President Piñera to negotiate a new and ambitious free commerce agreement. This is no longer a matter of eliminating tariff barriers—we’ve reached a new level. Now, our goal is to overcome regulatory barriers on the Brazil–Chile exchange,” Temer said, adding that the two also discussed ways to further promote integration between Mercosur and the Pacific Alliance, as well as the physical integration of South America.

Piñera said that, ever since Chile became an independent nation, the country has enjoyed privileged relations with Brazil, with no physical or commercial borders between the two countries. Though short, Temer’s visit proved fruitful, he said, with the beginning of talks to forge a free trade deal between Brazil and Chile. “Something we’ve always wished, and now is about to materialize,” Piñera said.

The Chilean president mentioned the bulk of Chilean investments in Brazil, which currently totals upwards of $30 billion, and reiterated the country’s efforts to expand the partnership in the fight against cyber crime and drug trafficking.

Venezuela

The current situation facing Venezuela was also brought to debate. Temer said that “the country’s political fate of the country” has both nations concerned. “We’re worried about the Venezuelan people; so we agree that there is no alternative for our region other than an openly democratic regime.”

In his address, the Brazilian president thanked Piñera for having chosen Brazil as one of the destinations on the first official trip of his second term of office as president. Piñera was re-elected and took office in March. Before coming to Brazil, he visited Argentina.

Translation: Fabrício Ferreira -  Edition: Fabrício Oliveira

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