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Overview
Chile is the world’s largest producer of copper (Mineral Commodity Summary, 2022). Its other major mining products include lithium, molybdenum and gold. There are opportunities in the traditional supply chain as well as in sustainable technologies, tailings management, water treatment, automation, mineral processing, services for lithium extraction processes, cyber security and insurance.
British expertise in goods and services
Mining is Chile’s economic engine. With the global mining sector faced with rising demand, UK industry professionals have an opportunity to help towards the whole mining lifecycle in Chile.
Sustainable innovations
Increasing concerns about the environment and reduced ore grades mean that the future of Chile’s mining sector lies in innovation. Innovative technology companies in the UK can find market opportunities to help Chile’s mining industry evolve, adapt and improve.
Mining finance and education
As a global centre of mining finance, the UK can take advantage of the opportunities to offer liquidity to mining projects of any size in Chile. The Chilean mining industry has training needs, and British universities, with world-class geoscience, minerals and materials and engineering research centres, are well placed to meet these.
Trade agreements with Chile
The UK has 2 Free Trade Agreements (FTAs) with Chile:
- the UK-Chile Association Agreement, henceforth referred to as the UK-Chile FTA, which entered into force on 1 January 2021
- the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade agreement including 12 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the UK and Vietnam) which entered into force between the UK and Chile on 15 December 2024
The UK-Chile FTA should be read in conjunction with the EU-Chile Association Agreement because the UK-Chile FTA incorporates provisions of the EU-Chile Association Agreement. The following Parliamentary Report provides information about significant differences between the two.
The UK-Chile FTA will remain in force alongside CPTPP. At times, you will need to specify which agreement you choose to trade under (notably when applying rules of origin), but benefits from either agreement will mostly apply automatically. Our guides attempt to highlight where businesses may need to make an explicit decision.
CPTPP entry into force and ratification
As of 24 December 2024, CPTPP is in force between the UK and:
- Australia
- Brunei
- Chile
- Japan
- Malaysia
- New Zealand
- Peru
- Singapore
- Vietnam
This means that the UK can access CPTPP provisions with said countries.
The following countries have not yet ratified the terms of the UK’s accession:
Canada and Mexico.
This means that the UK cannot yet access CPTPP provisions with those countries.
This guidance will be updated following each of the remaining countries’ ratification of the terms of the UK’s accession to CPTPP and will include when CPTPP will enter in force between the UK and the relevant remaining country.
New Rules of Origin options
The origin of a good is where it has been grown, produced or manufactured, and is not necessarily the country where the good is shipped or bought from. For goods to receive a preferential tariff, the goods must meet the specific Rules of Origin for that agreement. The UK-Chile AA and the CPTPP have different Rules of Origin that must be met to receive that agreement’s preferential tariffs. UK businesses may choose which Rules of Origin they will meet to receive a preferential tariff.
In the mining industry, some finished products - including plant and equipment - may have complex supply chains, where the FTAs provide benefits to receiving preferential tariffs on goods with varied originating components. Under CPTPP, goods sourced from other CPTPP countries count towards products meeting CPTPP Rules of Origin and receiving CPTPP preferential tariffs.
Find more information on the Rules of Origin requirements and how to claim for preferential tariff treatment.
Electronic contracts and trading digitally
Data for business purposes can flow freely between the UK and Chile. Provided high personal data protection standards are upheld, you may collect, process and transfer data between the 2 countries with minimal red tape. For example, data on monitoring energy production in Chile can be transferred to the UK for analysis.
Both countries have agreed against unjustified data localisation, allowing you to store their data in either country. This prevents difficulties in arranging for local data hosting and saves costs on buying local storage.
Opportunities for digital trading
Electronic authentication and electronic signatures
Electronic signatures and electronic authentication increase trust in e-commerce by helping to verify that transactions, and the people behind them, are genuine. Strengthening the legal validity of electronic signatures provides greater confidence that transactions can be concluded through electronic means.
By using electronic signatures and/or electronic authentication, you can complete transactions in a matter of minutes regardless of where your counterpart is, reducing costs and simplifying processes.
CPTPP ensures that electronic signatures are considered valid by all CPTPP countries, and individuals and businesses can confidently use them.
However, CPTPP countries might impose specific criteria regarding electronic signatures, including some circumstances where electronic signatures are not accepted. You should check local regulations for more information.
You have the freedom to determine the best way of authenticating your transaction. However, for some transaction categories, there can be specific requirements.
Paperless trading
Paperless trading refers to the conduct of trade activities using electronic rather than paper documents. This reduces administrative costs and improves efficiency of processes, benefiting UK businesses across all sectors.
The UK and CPTPP countries are committed to facilitating the flow of trade activities using electronic trade documents.
CPTPP countries have committed to making trade administration documents available in electronic form and to accept electronic versions of those documents. This refers to documents which are required in connection with the import or export of a good and must be presented to customs authorities.
Beyond CPTPP, the UK also enables commercial trade documents that use English law to be accepted in electronic form. This includes documents such as bills of lading, promissory notes, and bills of exchange. This was enabled by the Electronic Trade Document Act.
This complements the commitments made on paperless trading related to trade administration documents required by the UK government or other CPTPP countries as part of the import-export process. Find more information about the UK’s Electronic Trade Documents Act.
Different countries are at different stages of legislating for paperless trading and trade digitalisation. The United Nations Economic and Social Commission for Asia and the Pacific has created an interactive Model Law on Electronic Records (MLETR) tracker where you can view different countries’ progress.
Protected source code
You are not required to share or transfer your source code or algorithm as a condition to do business in CPTPP markets. This provides protection and guarantees to your technology and services that rely on source code or unique algorithms, especially from disclosing commercially sensitive information to your competitors as a condition to do business.
There are some exceptions where you might be required to disclose information, including as part of an investigation or inspection or a juridical proceeding. This protection does not extend to when you are accessing a government-owned or -controlled network, including Central Banks, or in relation to measures on financial institutions markets.
Protection for products using cryptography
If you have a product that uses cryptography and want to do business in CPTPP markets, you are not required to transfer or give access to your technology or production process, to partner with a business or use a particular technology, as a requirement to enter the market.
There are some exceptions where you might be required to give access to this information, including as part of an investigation or inspection or a juridical proceeding.
This protection does not extend to when you are accessing a Government-owned or controlled network, including Central Banks, or in relation to measures on financial institutions markets.
Find further information in our CPTPP digital guide.
Easier business travel
Business mobility provisions in FTAs support the temporary movement of professionals to deliver services, negotiate the sale of goods, and invest in businesses in person.
The UK’s FTAs help provide greater certainty and access for the temporary movement of highly skilled professionals between countries. These benefits give business people more options and flexibility for business travel, as well as often allowing them longer periods of stay in other countries to carry out business activities.
The UK-Chile AA recognises the following categories of business person:
- Business Visitors
- Intra-Corporate Transferees
- Investors
- Contractual Service Suppliers
- Independent Professionals
Find further information on the provisions in the FTAs for each of these categories in our temporary entry guide.
Entry to Chile is subject to applicants meeting the relevant immigration requirements set out by Chile. For full details on visa requirements and applications, please visit the Chilean Servicio National de Migraciones.
Department for Business and Trade support
The Department for Business and Trade (DBT) helps businesses export, drives inward and outward investment, negotiates market access and trade agreements, and champions free trade. Helpful links, tools and services available from DBT and wider government include:
Export Support Service (ESS) team
Get support on how to do business abroad. You may also be eligible for 1-2-1 support from a local International Trade Adviser. Businesses in Wales can also access support from Business Wales.
Export Support Service – International Markets (ESS-IM)
DBT's overseas in-market export support service for SMEs with high-export potential. Our International Market Advisers provide tailored support and market introduction information to new and current UK exporters looking to enter or expand into new markets. The service may be accessed globally with International Markets teams in South Asia, China, the Middle East, Africa, Eastern Europe, North America and Latin America.
Sign up to access free training on how to grow your international sales.
Information on finance and insurance for UK exports.
Trade and investment factsheets
The latest statistics on trade and investment between the UK and individual overseas partners.
Overseas business risk profiles
Information for UK businesses on political, economic and security risks when trading overseas.
Advice and warnings about travel abroad, including entry requirements, safety and security, health risks and legal differences.
Check or report a trade barrier
If you encounter an issue when exporting to any country – report the issue and UK government officials will be able to assess the issue and consider the options we have open to addressing it as appropriate
Search for your specific product to find applicable tariffs for each market, explore rules of origin and step-by-step help on customs procedures
Check import duties and allows you to check the status of available tariff rate quotas
Useful resources
You can find more information about export opportunities, business culture and any existing trade barriers on our Chile market guide.
Prior to export, you must be aware of local regulations and import conditions in Chile that apply to your goods or services. This can include tax considerations, labour laws, intellectual property rules, labelling and packaging regulations, among others.
To seek further information related to local regulations, business culture, or to find a local lawyer, translator, importer or distributor, you can use the following contacts:
- DBT’s Export Support Service International Markets team
- get in touch with DBT at the local British Embassy
- get in touch with the British Chamber of Commerce in Chile
To see information on political, economic and security risks when trading with Chile, please see:
Note:
This guidance contains data as reported by the UK from the Office for National Statistics (ONS) data source for total trade: UK total trade data (seasonally adjusted). Users are advised to use UK-reported data where possible for consistency between partners. This data is subject to asymmetries, for example, the value of UK exports to Chile (reported by the UK) may not match the value of Chile imports from the UK (reported by Chile). Data is in nominal terms, meaning no adjustment has been made to account for changes in inflation or exchange rate. The totals may not exactly match the sum of their parts due to rounding.