United States Chile Free Trade Agreement Executive

United States – Chile Free Trade Agreement Executive Office of the President Office of the United States Trade Representative

Competitive Liberalization The Concept • Promote free trade through multiple initiatives: – Global – Regional – Bilateral • Moving on multiple fronts allows the United States to: – Help U. S. workers, exporters, consumers – Encourage openness

US-CHILE FTA WIN-WIN, STATE-OF-THE-ART TRADE AGREEMENT FOR A MODERN ECONOMY IT IS: COMPREHENSIVE TRANSPARENT MODERN INNOVATIVE

Comprehensive Trade in Goods All tariffs and quotas on goods eliminated – no exceptions. Trade In Services Broad Commitments to Open Services Markets New Opportunities for U. S. Banks, Insurance, Securities and Related Services Government Procurement New Precedent s for Hemisphere

Transparent Ground-Breaking Customs Procedures Streamlined Rules of Origin Anticorruption Procurement Rules Unprecedented openness in Dispute Settlement

Modern Intellectual Property Rights (IPR) State-of-the-Art Protection in the Digital Age Protection Expanded Patents & Trade Secrets Tough Penalties for Piracy and Counterfeiting Electronic Commerce Free Trade in the Digital Age Express Delivery

Innovative Labor and Environment Obligations inside the agreement • Core obligations effectively enforceable Equivalent dispute settlement procedures Innovative use of fines Extensive cooperation to protect worker rights and the environment

Competitive Liberalization Hemispheric Goals Free Trade Area of the Americas (FTAA) – 34 participants in Western Hemisphere – Target for completion: January 2005 – U. S. and Brazil are now co-chairs – Next ministerial meeting: Miami, November 2003 Building Blocks – US – Chile FTA – CAFTA • Launched January 2003; target end – 2003 • Second Round: Cincinnati, Ohio, February 24 -28 Trade Capacity Building

FTAA: MOVING FORWARD Market Access Offers by February 15 in 5 Key Areas • Consumer and industrial goods • Agriculture • Services • Investment • Government Procurement US Leadership • Comprehensive: All tariffs on table • Bold: Encourages others to be ambitious • Pragmatic: Recognizes differences in economies