Council Decision (EU) 2024/3016 of 18 March 2024 on the conclusion, on behalf of the European Union, of the Interim Agreement on Trade between the European Union and the Republic of Chile

What it is

to conclude, on behalf of the European Union, of the Interim Agreement on Trade (ITA) between the European Union and the Republic of Chile. ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act. BACKGROUND: on 13 November 2017, the Council authorised the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to open negotiations for a modernised agreement with Chile to replace the Association Agreement. On 9 December 2022, the negotiations between the European Union and Chile were successfully concluded. The modernisation of the existing EU-Chile Association Agreement foresees two parallel legal instruments: PURPOSE: to conclude, on behalf of the European Union, the Interim Agreement on Trade (ITA) between the European Union and the Republic of Chile. BACKGROUND: in accordance with a Council Decision, the Interim Agreement on Trade between the European Union and the Republic of Chile was signed, subject to the conclusion of the Agreement at a later date. In accordance with that Decision, the Joint Statement by the European Union and the Republic of Chile on the Provisions on Trade and Sustainable Development contained in the Interim Agreement on Trade between the European Union and the Republic of Chile, attached to the Agreement, was approved on behalf of the Union. It is appropriate to authorise the Commission to approve on the Union’s behalf certain modifications to the Agreement that are to be adopted by a simplified procedure and by a body set up by the Agreement. The Agreement does not confer rights or impose obligations on persons, other than those created between the Parties under public international law. It is now necessary to approve the Agreement on behalf of the Union. CONTENT: the purpose of the draft Council Decision is to approve on behalf of the Union, the Interim Agreement on Trade (ITA) between the European Union and the Republic of Chile. The Committee on International Trade adopted the report by Samira RAFAELA (Renew, NL) on the draft Council decision on the conclusion of the Interim Agreement on Trade between the European Union and the Republic of Chile. The committee responsible recommended that the European Parliament give its consent to the conclusion of the agreement. As a reminder, the EU and Chile started negotiations on the modernisation of the agreement in 2017 to bring the agreement in line with the most advanced standards and unlock untapped potentials. The negotiations on the trade part were concluded at technical level in October 2021. The agreement in principle on the new EU-Chile Advanced Framework Agreement (AFA) and the Interim Agreement on Trade (ITA) was announced on 9 December 2022. The modernisation of the existing EU-Chile Association Agreement provides for two parallel legal instruments: - and the Interim Agreement on trade between the European Union and the Republic of Chile, covering the liberalisation of trade and investment, which will cease to have effect and will be replaced by the Advanced Framework Agreement as soon as the latter enters into force. Concerning trade and investment , the…

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