Chilli Free Trade Agreement

In this regard, critics point to the weakness of the agreement to effectively implement its commitments. For example, the agreement does not take into account sanctions in case of weakening or violation of national labour law. [17] U.S. Congressman Barney Frank criticizes the agreement for its deregulation of short-term capital flows, a key factor in the success of the Chilean economy. [19] On August 1, 2002, the U.S. Senate authorized President George W. Bush to negotiate a free trade agreement with Chile and other countries. [11] On December 11, 2002, Robert Zoellick, the U.S. Trade Representative, announced that he had concluded a free trade agreement with Chile. [12] On January 30, 2003, President Bush informed the US Congress of his intention to sign the treaty within 90 days. Chile has also concluded bilateral “supplementary economic agreements” with Bolivia, Peru, Venezuela, Argentina, Ecuador, Colombia and Mercosur, as well as a partial agreement with Cuba.