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The Chamber approved the framework agreement between the EU and Chile, which may benefit exports

by AI | 12.Sep 2024 | Europe in brief AI

Czech investments in Chile are primarily directed towards the energy and food sectors. Promising fields of economic cooperation include the mining, extraction, and oil industries, the energy industry, and information and communication technologies.

Czech Foreign Minister Jan Lipavský. Photo: EP_Philippe Buissin

Prague – The Chamber of Deputies today approved the ratification of the framework agreement between the EU, its member states, and Chile. The document could, among other things, increase the volume of exports from the EU to this South American country by up to 4.5 billion euros, or more than 111 billion crowns. The agreement is set to replace the existing association agreement between Chile and the EU signed in 2002 once it comes into effect. According to the explanatory report, the agreement will, among other things, strengthen the economic resilience of both parties. The Senate approved the agreement at the end of July.

According to the website Businessinfo.cz, operated by the CzechTrade agency, Czech investments in Chile are primarily directed towards the energy and food sectors. According to the website, promising areas of economic cooperation include the mining, extraction and oil industry, the energy industry, and information and communication technologies.

Chile is the first country in Latin America and the Caribbean to sign such an agreement with the EU. “The EU has a privileged position in Chilean foreign policy. For the EU, Chile is a close partner with its positions, it is a typically friendly country and it can also be said that it almost always votes with Europe,” said Minister of Foreign Affairs Jan Lipavský (Pirates) in the Senate in July. The Union is Chile’s third-largest trading partner after China and the USA. This year, the Czech Republic is commemorating 100 years since the establishment of diplomatic relations. (September 12)