The Importance of APEC for Chile
Chile joined APEC in 1994 and since then it has had an active participation in the promotion of free and open trade in the Asia-Pacific region. In 2019 it will be 25 years old.
The Forum constitutes for Chile the main economic integration scheme in the Asia-Pacific Region. It has proven to be a catalyst and incubator of economic and trade liberalization processes at the bilateral and multilateral levels, as well as an instrument to effectively implement Chile's foreign policy objectives in the region. The "incubator of ideas" aspect in APEC happens effectively because of this non-binding nature that allows economies to move forward on trade agreements that can then be taken to the WTO or other fora.
Under APEC, Chile has signed 16 trade agreements. Fifteen of them are already in force: Australia; Canada; China; South Korea; USA; Hong Kong-China; Japan; Malaysia; Mexico; Peru; P4 (New Zealand, Brunei Darussalam and Singapore); Thailand; and Vietnam. In December 2017 an agreement with Indonesia was signed, which was submitted to Congress for approval this year. In addition, the Deepening of the FTA with China, and the Deepening of the FTA with Canada are already in the Chilean Congress for ratification; and the process of the agreement modernization with South Korea has begun, and in this study stage an FTA with the Philippines.
In the political aspect, the Forum has allowed the country to continue the positioning policy for our future development and to strengthen Chile's image in Asia Pacific, taking into account that APEC is the only intergovernmental platform in which Chile is present in that region.
Synergies have also been generated with our participation in other forums and integration initiatives such as the Pacific Alliance, WTO, OECD and G20.