RIO DE JANEIRO, Nov. 21 (Xinhua) -- Brazilian President Michel Temer hailed on Wednesday the signing of a free trade agreement with Chile, highlighting the high efficiency of the two countries' negotiations.
The agreement was signed earlier in the day in Chile's capital city Santiago. "It was extraordinarily fast. In less than six months, we were able to establish and formalize this agreement," he said.
Among the points of the agreement, Brazil and Chile vowed to work to end international roaming tariffs for mobile phones and data transmission between the two countries. The Foreign Ministry said it will allow small companies from Brazil and Chile to participate in public bidding processes in both countries on an equal footing.
In addition, the ministry said the agreement will help reduce import and export costs in several aspects, and also boost bilateral trade.
"In its 24 chapters, the agreement establishes norms which will facilitate trade and investments between the two countries, in both goods and services sectors, according to the current dynamics of the global economy," the ministry said.