Chile market snapshot
- GDP: US$258 billion (2014)
- GDP per capita: GDP per capita: US$14,447 (2014)
- Population: 17.8 million (2014)
- Trade with Australia: AU$1.833 billion (2013-14)
- Exports to Chile: AU$541 million (2013-14)
- Imports from Chile: AU$1.292 billion (2013-14)
About the Australia-Chile Free Trade Agreement
The Australia-Chile Free Trade Agreement entered into force on 6 March 2009. It was Australia's fifth FTA and the first with a Latin American country.
The FTA covers goods, services and investment. From 1 January 2015, all tariffs were eliminated except sugar, which retains a tariff of six per cent for Australian exports to Chile. Since its entry into force there has been a significant increase in Australian companies operating in Chile and expanding their business in Latin America more broadly.
Then Minister for Foreign Affairs, Stephen Smith and his Chilean counterpart, Alejandro Foxley, signed the Australia-Chile FTA (ACIFTA) in Canberra on 30 July 2008. The text of the Agreement was tabled in the Australian Parliament on 17 June 2008.
Key interests and benefits
- Elimination of almost 92 per cent of tariff lines covering 97 per cent of merchandise trade upon entry into force
- Elimination of tariffs on all existing merchandise trade from 1 January 2015
- National treatment for Australian goods, services and suppliers in the Chilean market for procurements above agreed value thresholds.
- Locks in both sides' liberal services and investment regimes.
- Locks in both sides' high standards of IP protection for patents, trademarks, geographical indications and copyright.
Inaugural Australia-Chile Economic Leadership Forum
The fifth anniversary of the ACIFTA was marked during the inaugural Asia Pacific Platforms: Australia Chile Economic Leadership Forum held on 11-12 December 2014 in Santiago, Chile.
Asia Pacific Platforms: Economic Leadership Forum report [PDF]
Signing of amendment to Chapter 15 in Santiago, Chile
Australia-Chile FTA comes into force - 5 March 2009
The FTA eliminates immediately Chile's tariffs on almost 92 per cent of tariff lines covering 97 per cent of goods currently traded.
This includes Australian exports of coal, meat, wine and key dairy products. Tariffs on all existing merchandise trade will be eliminated by 2015.
Reflecting the Government's increasing focus on helping services suppliers, the FTA includes commitments by Chile to maintain an open and non-discriminatory market for Australian services, including in important sectors for Australia such as education, professional services, mining, engineering, management consulting and financial services.
Chile is Australia's third largest trading partner in Latin America and there are approximately 120 Australian companies actively trading with Chile.
Here you can locate the full text of the Australia-Chile Free Trade Agreement and other associated official documents.
Full text of the Australia-Chile Free Trade Agreement
Rules and schedules
The Australian Trade Commission’s (Austrade) AClFTA website has further information about the agreement.
For more information on doing business in Chile and about specific export opportunities, go to the Austrade website. As well as country-specific information, the Austrade website also has a database that can be searched by industry.
A key Chilean implementing agency for the FTA is the General Directorate of International Economic Affairs in the Chilean Ministry of Foreign Affairs (known as DIRECON).
Information from DIRECON on the Australia-Chile FTA
Australian exporters seeking to access new opportunities under the Australia-Chile FTA may wish to obtain more information on rules of origin and other requirements from the Australian Customs Service.