UK-Chile bilateral agreement signed, with more to come

The British government have just signed a new trade continuity agreement with Chile that “will see British businesses and consumers benefiting from preferential trading arrangements with Chile after we leave the European Union” according to the Department for International Trade.

The UK’s Ambassador to Chile, Jamie Bowden, signed the agreement yesterday alongside Chile’s Foreign Minister Roberto Ampuero. Bowden said that the agreement will ensure “there will be no disruption to UK-Chile trade as the UK leaves the EU”.

In an announcement on the government website, they explain that: “UK manufacturers benefit from preferential access to the Chilean market to sell their goods, and UK consumers benefit from lower prices on Chilean goods, such as wines, fruits and nuts and other products. ”

International Trade Secretary Liam Fox said: “Today we have signed an important trade continuity agreement as we prepare to leave the European Union. This will ensure there is no disruption to British business exporting to Chile after we leave the EU and will mean consumers continue to benefit from low prices and more choice on supermarket shelves.

“Our trading relationship with Chile continues to go from strength to strength, with exports rising over 20% to almost £1 billion last year. This free trade agreement will allow trade to continue as freely as it does currently and will help to strengthen our trading relationship even further.”

Interestingly, the government also say that “we expect to sign a number of other agreements due to be agreed in the coming weeks”. Great stuff.

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This follows the announcement in December that the UK and Switzerland had approved the transition of a trade agreement. The UK must leave the European Union, including the Single Market and Customs Union, so that the country is free to act independently on the world stage and realise the potential of Brexit.