European Parliament approves Advanced Framework Agreement and Interim Trade Agreement with Chile
The agreements establish new standards in trade and cooperation.
The day started with the great news that the European Parliament has approved the Advanced Framework Agreement (AFA) and Interim Trade Agreement (ITA) with Chile.
First to come into force will be the Interim Trade Agreement, which does not require the approval of EU Member States, only the consent of the European Parliament. While it is in operation, the political and cooperation areas of the Association Agreement signed in 2002 will remain in force.
Once the AFA is ratified by the EU Member States, it will replace the Association Agreement signed in 2002, and the Interim Trade Agreement will no longer be in effect.
Chile’s Foreign Affairs Minister, Alberto Van Klaveren, stated, “we are very happy with the approval of both instruments. It is without a doubt a very important step so that the Advanced Framework Agreement can quickly enter into force. This agreement will undoubtedly give a significant boost to Chile’s relationship with the European Union, establishing new standards in trade and cooperation, including new issues such as combating climate change, gender and trade, and social inclusion.”