Rapprochement

September 2006 | Ratings Update

The Chilean and Peruvian Foreign Ministers met in August in an effort to deepen economic and political ties. From a political perspective, a rapprochement between the two countries marks a symbolic move away from bitter relations that characterised previous administrations. Economically speaking, both governments signed an extension to the 1998 economic complementation agreement (ACE), which covers issues such as investment and migratory rights but excludes others such as air transport and shipping ports. One of the goals in the agreement aims at increasing labour mobility between countries, by increasing social services granted by one nation to migrants from the other.

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