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Foreign Ministers of Uruguay and Chile sign free trade agreement

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In the context of International integration strategy set by the President of the Republic, Dr. Tabaré Vázquez, in the day, the Minister of Foreign Affairs of Uruguay, Rodolfo Nin Novoa, and the Minister of Foreign Affairs of Chile, Heraldo Muñoz, signed in Montevideo a Free Trade.

The important event was held in Executive Tower, after a meeting held by the foreign Ministers with the President of the Republic, Dr. Tabaré Vázquez, and was attended by Ministers of State and various national Authorities.

The Agreement, which consists of 20 chapters, is described as "next generation" because of the inclusion of new disciplines that Uruguay considered for the first time in an instrument of this nature.

Some of them are: i) electronic commerce - mode that is imposed increasingly traditional trade routes -; ii) environment - protection of resources in production processes -; iii) labor standards - provides a framework of certainty to workers and employers in both countries; iv) trade and gender - focused on the role and empowerment of women in economic development -; v) PYMEs - includes provisions that allow the private sector to have real access to the benefits offered by the Agreement; vi) cooperation - have tools to generate thematic spaces bilateral cooperation; and vii) transparency and anti-corruption - creates a framework of guarantees that ensures the stability of trade and investment -.

Once the Treaty enters into force, increased trade flows, both goods and services are expected; facilitate operational; greater transparency; create spaces for consultation with civil society; increase the degree of predictability of the behavior of both States in the conduct of its commercial relations; and make the benefits of the Agreement to SMEs more transparent.


Montevideo, October 4, 2016


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