Chile and Australia share a healthy and growing trade relationship. Chile is Australia's third largest trading partner in Latin America.
The Australia-Chile Free Trade Agreement was ratified in 2009. According to the agreement, goods qualifying as Chilean products by meeting the requirements of the ACl-FTA rules of origin, can be imported to Australia at preferential rates of duty. The same rules apply for Australian goods entering Chile.
Import tariffs
Chile's tariff rate is grounded on the Harmonised System, and for most goods is presently a uniform 8 % applicable on the cost, insurance and freight (CIF) value of most goods.
Import duties are planned to reduce by 1 % each year where most goods will have a 6 % uniform import duty.
Chile has recently become a member of the Mercosur agreement, and goods produced by Mercosur members are subject to lower rates of duty.
Exemptions from customs duty are granted to imported goods for some specific activities, principally in relation to the copper, nitrate and fishing sectors.
Supplementary import duties are occasionally levied on specified goods.
Chilean authorities maintains import and export licensing requirements. However, these are more for statistical purposes rather than control. Import licenses are approved by the Central Bank, and it takes only a matter of a couple of days.
Non-tariff import barriers
The majority of imports may enter Chile free from controls, although a document known as the Informe de Importacion is required for all imported goods. It is issued by the Central Bank, and may also be obtained and processed through a local commercial bank.
Shipments on deferred payment terms, of over 1 year, require the prior authorisation of the credit terms by the Central Bank.
Application for deferred payments must be supplemented with the producer's original
pro-forma invoice.
If the exporter is not the producer the exporters' original pro-forma invoice must be provided quoting the price stated on the manufacturer's pro-forma invoice and must indicate any extra charges, which may be incurred (freight, insurance etc). Commission must not be included. Used passenger motor vehicles and some used parts are generally banned.
Import documentation: commercial invoice; bill of lading etc.
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