The trade in services chapter (Articles 22-31) deals with trade in services, including a separate annex on telecommunications services (Annex IX). The agreement applies to the four types of supply (delivery) of a service within the meaning of the GATS. The agreement is aimed at all service sectors. However, it was agreed that, in the case of financial services, the possible coverage and scope of liberalization would be reviewed two years after the agreement came into force. As in the GATS, the positive lists of specific commitments of each party are an integral part of the agreement. These lists are reviewed every three years, or more frequently, to reduce or eliminate the bulk of discrimination between parties for trade in services under this section on services. Chile is the first Latin American country to have sealed a free trade agreement with China (2005) and to work with Beijing since early 2007 to extend the agreement to services and investment. Other agreements in this regard were reached during President Bachelet`s visit to China in April 2008. The service contract came into effect in August 2010. Chile is one of the Latin American countries that most actively conduct bilateral trade agreements Supporters of the U.S.-Chile Free Trade Agreement say that the reduction of trade barriers caused by the pact will lead to increased trade between the two countries. Chile has more or less comprehensive free trade agreements with the United States, Canada, the European Union, EFTA, South Korea, Japan, Central America and Mexico. In June 2005, it reached a four-lane agreement with its Pacific neighbours Brunei, New Zealand and Singapore (P-4). In June 2006, it signed a free trade agreement with Panama.
In February 2010, it signed a contract with Guatemala. Critics point out in this area the weakness of the agreement to effectively meet its commitments. For example, the agreement does not take into account sanctions for weakening or violating national labour laws.  New opportunities for U.S. workers and manufacturers: all exports of consumer and industrial products can now be exported duty-free to Chile. Major U.S. export sectors, such as agricultural and construction machinery, cars and auto parts, computers and other computer products, medical equipment and paper products. The free trade agreement includes a meeting of the trade coordinator and trade subcommittees that meet annually to verify the use of the free trade agreement and other issues related to the free trade agreement. The agreement establishes a high level of intellectual property rights protection (Article 46), covering areas such as patents, trademarks and copyrights, and, in some areas, goes beyond what is provided for in the WTO agreement on trade-related intellectual property rights (TRIPS) and other international agreements and contracts. The chapter on trade in goods also contains provisions relating to trade assistance, such as anti-dumping measures and safeguards. The ESTV also provides favorable access for U.S. service providers and guarantees for the protection of U.S.
investors and U.S. copyrights, trademarks and patents registered in Chile. In addition, Chile has opened important public procurement contracts for U.S. bidders. The agreement covers all major areas of trade relations, including trade in goods, trade in services and investment, public procurement, competition and intellectual property. A joint committee is set up to monitor the agreement. It also contains dispute resolution provisions. In addition, EFTA states and Chile have concluded bilateral agricultural agreements. The EU and Chile are negotiating the modernisation of the trade component of the existing EU-Chile Association Agreement so that it can continue to address all areas of EU-Chile trade and investment relations.