Congress of Chile ratifies its adherence to the Comprehensive and Progressive Treaty of Trans-Pacific Partnership

The Chilean Congress approved this Tuesday the accession of Chile to the Comprehensive and Progressive Treaty of Trans-Pacific Partnership (types), becoming the tenth country to do so.

Of the 11 signatory countries of this treaty, only Brunei to complete the ratification process.

Despite being one of the most open countries to trade in the world, Chile lasted four years in the legislative approval of the TIPAT.

TIPAT entered into force for Australia, Canada, Japan, Mexico, New Zealand, and Singapore at the end of 2018; Vietnam in 2019, and Peru in 2021. Last week Malaysia approved the ratification.

Separately, the United Kingdom, China, Taiwan and Ecuador applied to join the types in 2021.

Chile still requires that the types be signed into law by leftist President Gabriel Boric. The senators supported the entry of Chile by 27 votes in favor, 10 against and one abstention.

The types was signed in 2018, when it was signed by Chile by the then socialist president Michelle Bachelet. Months later that same year, his successor the conservative Sebastian Pinera The treaty was submitted to Congress for approval, before presidential ratification. In 2019 it was approved by the Chamber of Deputies.

According to the Reuters agency, Tuesday’s vote showed the differences within the ruling coalition itself, where legislators from parties closest to Boric voted against and the former allies of the center-left Concertación bloc – which promoted the global opening of the economy after the fall of the dictatorship – approved it.

The government had said that the types it wasn’t part of her program and it wouldn’t promote her approval, though it wouldn’t hinder her either. As of Tuesday, the agreement can be promulgated by the president, but the procedure would not be immediate because Chile sent a series of side letters to ten member countries, which extends the process.

The objective is “to modify elements of the chapter referring to investor-State dispute resolution mechanisms, a subject of criticism and international debate,” a press official from the Foreign Ministry’s Undersecretary for International Economic Relations told Reuters.

roberto.morales@eleconomista.mx

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