The path chosen by Chile has three development stages.
The first stage included a series of complementary economic agreements with Latin American neighbors through the Latin American Integration Association (Aladi). This process built associations with Mexico, Venezuela, Colombia, Peru, Bolivia and the Mercosur (i.e., Brazil, Argentina, Uruguay, and Paraguay).
The second stage took place in the late 1990’s and included free trade agreement with more developed economies. Success in the second phase depended on success in the first phase.
These treaties allowed a wider variety of relationships to develop due to the maturity of internal regulations governing areas such as goods, corporate services, public procurements, intellectual property, e-commerce, etc. This model was applied, for example, in agreements with Canada, the EU, and the US.
At present, the third stage is underway. For the past five years, Chile has focused on developing agreements with Asian countries. Chile’s participation in the Asia-Pacific Economic Cooperation Forum (Apec) has established a political environment for negotiating agreements with regional leaders in Asia. For example, agreements already exist in China, South Korea, Japan, and India. Further agreements are being negotiated with Vietnam and Malaysia.