Canada-Chile Free Trade Agreement
- Canada-Chile Free Trade Agreement
Canada-Chile Free Trade Agreement (CCFTA) is a trade agreement between Canada and Chile. It was signed on December 5, 1996 in Santiago, Chile and came into effect on July 5, 1997. Tariffs on 75 percent of bilateral trade were immediately eliminated. [http://www.canadabusiness.ca/servlet/ContentServer?pagename=CBSC_FE%2Fdisplay&lang=en&cid=1081944209781&c=Regs] It was Canada's first free trade agreement with a Latin American nation, and was Chile's first full free trade agreement. Over the first decade, trade between Canada and Chile increased by 266%, with the trade of goods rising from $718 million in 1996 to $2.34 billion in 2006. Bilateral service trade increased to $164 million by 2005. Canadian investments in Chile reached $5.17 billion in 2006. [http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/chile-chili/index.aspx]
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