The agreement is comprehensive and of high quality and covers trade in goods and services, investment and other related areas. As Hong Kong`s first free trade agreement with the South American economy, the agreement will help Hong Kong companies open up the Chilean market, which offers potential opportunities as an emerging market as an emerging market and opportunities for the South American region. It will also expand the FTA network from Hong Kong to the US region, in addition to our existing connection with the Asia-Pacific and Europe regions. Chile`s main imports from China are cars, electrical machinery and textiles. The upgraded agreement will support this demand, as the exemptions apply to vehicle imports. Chile also exports services such as travel and tourism. It implemented a visa waiver policy with China for citizens who had a valid U.S. or Canadian visa. Most of Chile`s trade is shifting to goods, as its comparative advantages in the mining and agricultural sectors have led to better access to large markets such as China. Hoping to discover one of the most successful and largest countries in Latin America (along with Argentina and Uruguay), Chinese workers are taking the opportunity to create a source of food for their country. Since Chile has a large amount of fertile land perfectly suited to grain and livestock, the Chinese are trying to make agreements with the country to impose sanctions on free land only to produce products for export to China. Chile was Hong Kong`s third largest trading partner in Latin America. Bilateral merchandise trade between Chile and Hong Kong amounted to $17.1 billion in 2019.
In terms of trade in services, Chile was our third largest trading partner in Latin America, with bilateral trade in services amounting to HK$1.3 billion in 2012. Fact sheet on Hong Kong`s trade relations with Chile In 2009, bilateral trade reached $17.4 billion. Chilean exports accounted for 23% of total Chilean exports.  Previously, China and Chile signed a double taxation agreement (DBA) on 24 May 2015 and agreed to establish an RMB clearing house in Chile. This DBA was symbolic for China, as it was the 100th tax treaty signed by China with a foreign country. However, these challenges can be overcome. Chile`s free trade agreement with China offers a great export opportunity. After three rounds of negotiations, the Free Trade Agreement (FTA) between Hong Kong and Chile was signed on 7 September 2012. In addition to the Free Trade Agreement, Hong Kong and Chile have signed a Memorandum of Understanding (MoU) on Labour Law Cooperation to address labour issues of mutual interest. .