Agreement benefits Chile, U.S.

“The free-trade agreement between Chile and the United States came into force on Jan. 1, 2004, marking the culmination of a long journey that began in the 1990s.

Despite the obvious differences between the Chilean economy and the world’s leading economy, the benefits of the agreement have been mutual — albeit with a greater positive impact for Chile, a key advantage for a country whose foreign trade represents 60 percent of its GDP. Chile’s experience suggests that Costa Rica — which will soon have to decide on the free trade agreement between the United States, Central America and the Dominican Republic (CAFTA) — could also benefit from a similar agreement.”

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