July 20, 2020
coronavirus
Foreign Trade

Joint Statement on Enhancing Cooperation under the FTA and Combating COVID-19 between the Ministry of Commerce of China and the Ministry of Foreign Affairs of Chile

Joint Statement on Enhancing Cooperation under the FTA and Combating COVID-19 between the Ministry of Commerce of China and the Ministry of Foreign Affairs of Chile

Against the backdrop of the outbreak of COVID-19, in order to mitigate its impact on international trade and investment, expedite the restoring of our economic and trade order, and promote the long-term development of international trade and investment, the Ministry of Commerce of China and the Ministry of Foreign Affairs of Chile have issued the following joint statement on tackling this global challenge: 

China and Chile call for close, coordinated, and robust cooperation around the world to respond to this common threat. The two countries are strongly committed to presenting a united economic and trade front against COVID-19 and standing against trade protectionism.

The two countries recognize the importance of trade and investment liberalization at this critical moment, including maintaining open and connected global supply chains. The two countries will work to ensure that trade flows unimpeded, and trade lines and critical infrastructure including via air and sea freight remain open.

The two countries recognize the important value of the Free Trade Agreement (FTA) in promoting bilateral trade and investment growth and stabilized development of both countries. Since both parties signed the agreement in 2005 and subsequently signed the Protocol in 2017, both countries’ trade and investment have witnessed fast growth. Our trade volume grew from 7 billion dollars in 2005 (year signed) to 41 billion dollars in 2019 (480%). Both parties will work closely to better implement our bilateral FTA , which plays an important role in facilitating the free flow of goods and services, supporting the integrity of global supply chains, mitigating the impacts of the pandemic on bilateral trade and investment, and contributing to stronger and sustainable economic growth after the crisis.

The two countries will take the necessary measures to ensure the continued flow of vital medical supplies and equipment, critical agricultural products and other essential goods and services across borders, for supporting the health of our citizens.  The two countries will work to assist the vulnerable developing and least developed countries. The two countries commit to supporting the Multilateral Trading System and agree that emergency measures to tackle COVID-19 shall be targeted, transparent and temporary, and are consistent with WTO rules.