The importance of the U.S.-Chile Free Trade Agreement (FTA), enacted on January 1, 2004, is often overshadowed by both the North American Free Trade Agreement (NAFTA) and the Central America–United States–Dominican Republic Free Trade Agreement (CAFTA-DR). Nevertheless, the U.S.-Chile FTA offers valuable lessons about the impact of bilateral trade agreements and highlights the fact that countries benefit more when top-down reductions in trade barriers are complemented by bottom-up reforms.
Two years into the U.S.-Chile FTA, Chile has demonstrated its success in helping businesses identify and resolve indigenous barriers to trade, as well as in increasing productivity. But despite its success, the country continues to fall short in certain areas, most notably in harmonizing intellectual property rights to American standards and helping small and medium enterprises participate in this process. How can a country like Chile—with a population of 16 million and a GDP just one-hundredth that of the United States—be competitive in the American market against China and other Latin American nations? Which public and private efforts have been particularly successful in Chile, and how? In what areas can Chile continue to improve its competitiveness? And, most importantly, does Chile provide any best-practice examples that can be replicated elsewhere?
These and other questions will be the focus of a panel discussion moderated by AEI visiting fellow Roger F. Noriega. Professor Boris Kozolchyk and Ambassador Estaban Tomić will discuss their joint venture to establish the Law Center for Free Trade Implementation in Santiago, Chile.
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Saturday, November 21, 2009
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