Chilean foreign minister proposes to upgrade FTA

Chilean foreign minister proposes to upgrade FTA

Chilean Foreign Affairs Minister Andres Allamand visited Korea to discuss upgrading the Korea-Chile free trade agreement as well as other cooperative measures ahead of the 60th anniversary of the establishment of diplomatic ties in April 2022.

Minister Allamand and International Economic Relations Vice Minister Rodrigo Yanez met Korea's Foreign Minister Chung Eui-yong, Trade Minister Yoo Myung-hee and National Assembly Speaker Park Byeong-seug on July 21.

Allamand and Chung discussed the finalization of negotiations to upgrade the 17-year-old bilateral FTA to meet the changed international economic environment. Chile also reaffirmed its support for Korea's accession to the Pacific Alliance as an associate member and the Korean Peninsula's peace process.

"It is true that Chile and Korea are geographically far apart, although the Pacific Ocean brings us together. Your country and my country share very important values, the promotion of peace, respect for democracy, the value of freedom, economic growth, poverty reduction, trade integration and a world order based on law and solid multilateral institutions," Allamand said during the meeting with Chung, emphasizing that both countries are not only friends but also strategic allies.

"Today, Chile and Korea can talk about the agenda of the future and address such important issues as technological innovation, climate change, cybersecurity, everything related to the Fourth Industrial Revolution and, of course, matters on which we have been working together for a long time, such as the Antarctic issue."

Allamand also shared views on how the two countries have dealt with COVID-19 and how they can work together for post-pandemic economic recovery.

Meanwhile, Vice Minister Yanez had meetings with Korea's private sector to promote the Chilean Green Hydrogen National Strategy. The goal is to boost Korean investments in Chile in this new energy, highlighted by the mutual commitment of Chile and Korea to achieve carbon neutrality by 2050 within the framework of Korea's Green New Deal.

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