November 17, 2006

On 17 November 2006, Mr. Shinzo Abe, Primer Minister of Japan and Mrs. Michelle Bachelet, President of Chile met in Hanoi on the occasion of the APEC Leaders Summit.

Following the agreement in principle on major elements, mainly on Market Access, reached in last September, the two leaders welcomed the successful accomplishment of the negotiations for the Japan-Chile Economic Partnership Agreement (hereinafter referred to as the JCEPA) after five rounds of negotiations since February 2006, including four intersessional meetings.

The two leaders instructed officials of both sides to expedite works toward the signing of the JCEPA.

The JCEPA will cover a comprehensive range of economic issues, including trade and investment liberalization and facilitation; improvement of the business environment; entry and temporary stay of nationals for business purposes; intellectual property; competition; government procurement; technical barriers to trade (TBT); and sanitary and phytosanitary measures (SPS).

Japan and Chile have been enjoying strong economic ties with bilateral trade amounting to nearly 6 billion dollars per year. Furthermore, both countries will celebrate in 2007 the 110th anniversary of diplomatic relations. In this context, the JCEPA will contribute to further broadening and deepening the long-standing close and cordial ties of friendship and mutually beneficial cooperation by forging closer economic relations, enhancing more favorable investment climate, and generating greater business opportunities through liberalization and facilitation of trade and investment between the two countries. The JCEPA will mark a new era for Japan-Chile strategic partnership.

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