Chile: Chile and the EU Finalize Advanced Framework Agreement
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On December 13, 2023, Chile and the European Union (EU) signed an updated Free Trade Agreement, or Advanced Framework Agreement as it is currently termed. The new agreement expands market access for Chilean products to the European market and grants expansive protections for 216 geographical indications (GIs), including many commonly used names like feta, gruyere, kölsch, and parmesan. Once ratified, the measure will negatively impact U.S. exports to Chile, while granting a monopoly to EU suppliers. U.S. exporters of impacted products should work closely with their Chilean importers to ensure compliance. In 2022, the United States was the second largest supplier of cheese to Chile at $63.0 million, including an estimated $13.5 million of parmesan which could be affected.
