U.S. business leaders are hoping that the new U.S.-Chile free-trade agreement will inject new life into an economy that until recently was one of South America’s few success stories.
There is some reason for optimism.
The planned treaty enjoys broad legislative support in both countries, so it could take effect early next year. Then Chile “will have free trade with more than 50 percent of the world’s gross domestic product,” Finance Minister Nicolas Eyzaguirre said.
For U.S. business, the trade pact means regaining a level playing field with European rivals, as well as with Mexico and Canada, which also have free-trade deals with the United States. The United States primarily exports high-quality manufactured goods, such as computers, mining machinery and cars to Chile.
Source: Stephan Kueffner, Chile Hopes Trade Pact Will Revive Its Economy, Wall Street Journal, June 6, 2003.
For text (WSJ subscription required)
http://online.wsj.com/article/0,,SB105485562648213100-search,00.html
For more on Trade Agreements http://www.ncpa.org/iss/tra/
For more on Trade Agreements http://www.ncpa.org/iss/tra/
FMF Policy Bulletin/10 June 2003
