ECONOMY NATIONAL

Chilean government moves forward with the Trans-Pacific Partnership

On Sept. 12, President Boric’s political committee gathered in La Moneda alongside Foreign Affairs Minister Antonia Urrejola and the Subsecretary of International Economics Affairs José Miguel Ahumada. They discussed the signing of the Trans-Pacific Partnership aka the TPP-11. The treaty has been criticized by many for its “neoliberal” characteristics.

The Boric administration’s political committee met on Sept. 12 to discuss the relationships between Chile and other countries. They also talked about the signing of the Trans-Pacific Partnership, better known as TPP-11.

As El Dínamo reports, Foreign Affairs Minister Antonia Urrejola told the press that “[t]he Subsecretary of International Economic Affairs has been working with the different signatory countries to see to the subscription of side letters that will allow us to accomplish the government program and advance with the TPP, but taking charge of some of the critics.” Currently, the treaty is stalled in the Chilean Congress.

What is the TPP-11 about?

As the Ministry of Foreign Affairs explained through its website, The TPP-11 is a treaty for the Asia-Pacific region that has the objectives of “promoting economic integration, to establish legal frameworks predictable for commerce, to facilitate regional commerce, to promote a sustainable growth, among others.” Alongside Chile, the members are Australia, Brunei, Canada, Japan, Malaysia, Mexico, New Zealand, Perú, Singapore, and Vietnam.

The treaty was approved in 2019 in Chile’s Lower House, but then it got stacked in the Senate and it hasn’t moved on since then. President Boric (then a representative) was one of the Congress members that was opposed to it. But now, the center-left and the right parties are pushing for it to be signed. As Ex-Ante reports, The government is working carefully on this matter to avoid problems with its ally parties (Frente Amplio members and the Communist Party). 

The Minister of Economy Nicolás Grau told Cooperativa on Sept. 13 that what comes next “will be announced soon.”

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