The Comprehensive and Progressive Agreement for Trans - Pacific Partnership enters into force in Chile

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has come into effect in Chile since February 21, 2023. Now, Chile will enjoy zero-tariff treatment for hundreds of categories of export goods and additional tariff reductions for goods not fully exempted, particularly in manufacturing products, based on its bilateral agreements with Malaysia and Vietnam. The CPTPP eliminates tariffs and restrictions on products such as milk powder, cheese, honey, oranges, beef, and poultry, which is expected to boost the development of multiple industries in Chile, including agriculture, dairy and meat, fisheries, and forestry. Additionally, the country can import manufacturing components and intermediate products for production from other member states at lower tariffs.