. In the intent of reaching a better commercial relations balance between both nations and with the vision of stretching bonds, creating a bigger market, and enhancing the competitiveness of local firms in global markets, Chile and Mexico signed the Chile-Mexico Free Trade Agreement in Santiago Chile on April 17 1998. The Agreement came into effect on August 1, 1999. Both Parties established a free trade area in accordance with the provisions of Article XXIV from GATT, 1994 and Article V from GATS, which are part of the WTO Agreement and in accordance to the Montevideo treaty, 1980.
The main objectives of this treaty are:
* Encourage expansion and diversification of trade between Mexico and Chile
* Remove trade barriers and facilitate the movement of goods and services inside the free trade area.
* Promote conditions of fair competition.
* Increase investment opportunities.
* Protection and enforcement of intellectual property rights.
* Establish a framework for further cooperation between the Parties, as well as regional and multilateral cooperation to expand and enhance the benefits of this Agreement.
* Create effective procedures for the implementation and enforcement of this Agreement, for its joint administration and dispute resolution.
The products included in this Free Trade Agreement are: sportswear and sport equipment, agricultural goods, goods for display or demonstration, printed advertising materials, commercial samples of negligible value, advertising films, fish and fish products and used cars. As well, some services are also allowed without any charges in the other country like repairs or alterations to existing goods without changing the original characteristics of the good, exportation of goods and export subsidies. “No party may adopt or maintain any prohibition or restriction on the... [continues]
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