(1)

On 13 November 2017, the Council authorised the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to open negotiations with Chile on a modernised agreement with Chile to replace the Agreement establishing an association between the European Community and its Member States, of the one part, and the Republic of Chile, of the other part (1) (the ‘Association Agreement’).

(2)

On 9 December 2022, the negotiations between the Union and Chile were successfully concluded.

(3)

The modernisation of the Association Agreement envisages two parallel legal instruments. The first instrument is the Advanced Framework Agreement between the European Union and its Member States, of the one part, and the Republic of Chile, of the other part (the ‘Advanced Framework Agreement’), which includes: the Political and Cooperation pillar, and the Trade and Investment pillar, which encompasses investment protection provisions. The second instrument is the Interim Agreement on Trade between the European Union and the Republic of Chile (the ‘Agreement’), which covers trade and investment liberalisation. The Agreement will cease to have effect and be replaced by the Advanced Framework Agreement upon entry into force of the latter.

(4)

The Agreement should be signed on behalf of the Union, subject to its conclusion at a later date and the Joint Statement on the Provisions on Trade and Sustainable Development contained in the Interim Agreement on Trade between the European Union and the Republic of Chile (the ‘Joint Statement’), attached to the Agreement should be approved on behalf of the Union,