Entered into at Santiago on 2 April, 1993, enacted in Chile through Supreme Decree Nº 321 issued by the Ministry of Foreign Affairs on 6 April, 1993 and published in the Official Gazette on 30 June, 1993. The Agreement came into effect on 1, July, 1993.

This Economic Complementarity Agreement was subscribed under the 1980 Montevideo Agreement, which established the Asociación Latinoamericana de Integración (ALADI). The aim of the Agreement is to establish an extended economic space, to allow the free circulation of goods and services in the area; strengthen trade and economic relations by means of a total elimination of taxes and barriers on imports; stimulate coordinated actions in international economic forums; encourage investments, strengthen the competitive capability and facilitate the creation and operation of Regional Binational and Multinational enterprises.

The Agreement comprises 21 Chapters and 6 Annexes. The rules contained therein govern matters such as the trade liberalization program, the automobile sector, unfair trade practices, safeguards, treatment of domestic taxes related matters, Government acquisitions, settlement of disputes, technical rules, rules of investment, among others.

Rules of Origin and Customs Procedures are governed by Resolution Nº 78 which contains ALADI s Origin Regimen, the consolidated and arranged text of which is contained in Resolution Nº 252, dated 4 August, 1999.

The Agreement provides for a tax elimination program from 1 July, 1993, affecting Annexes 4, 5 y 6 (automobile sector). The products detailed in the other Annexes have tax preference from 1 January, 1999, except for those included in Annex 3, such as: milk products, wheat, corn, wheat flour, sugar cane, edible soybean, peanut and olive oil, beet plant, mayonnaise, cigars and cigarettes, tobacco, petroleum, phosphorus, and polyethylene by-products, among others.

» Text of the Agreement