European Union: Adopted Council decision on the conclusion of EU-Chile AFA and iTA

On 4 December 2023, the Council adopted a decision to conclude negotiations for the European Union (EU)-Chile Advanced Framework Agreement (AFA) and the Interim Trade Agreement (iTA). The revised EU-Chile AFA enhances trade and investment by removing most remaining tariffs on goods, facilitating services trade, and simplifying business for small companies. The AFA also aims at facilitating digital trade between the parties. Under the AFA, the parties agreed that cross-border data flows should be facilitated and not be restricted, customs duties on the electronic transmission of data will not be imposed, and the parties' legal systems should allow digital signatures. Furthermore, the parties agreed to foster a dialogue on issues of digital trade.