LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

October 26, 2022

Would Membership in the CPTPP Spur Chile’s Economy?

Chilean lawmakers this month approved membership in the CPTPP trade bloc, though President Gabriel Boric’s government has said the accord is not part of its agenda. // File Photo: Chilean Government.

Q

A

Kathleen C. Barclay, director of AmCham Chile: “The CPTPP consolidates Chile’s commercial integration with markets of more than 500 million people, representing 13 percent of global GDP and with potential to grow beyond the current 20 percent of Chile’s exports. Chile will join the largest commercial bloc in the world. The agreement opens markets for an additional 3,000 Chilean products, provides access to new products and unifies rules across a broad region, reducing the costs associated with the alternative of multiple bilateral agreements—key for small and medium-sized businesses. The CPTPP significantly increases access to the Japanese market—important for the agricultural sector. Chile’s far left, while representing a minority in Congress, is an important part of President Boric’s coalition. One concern expressed by the group relates to sovereignty in light of the investor-state dispute resolution clause included in the CPTPP. The president, in an attempt to respond to…”

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