Chile is the only country in Latin America and the Caribbean where Turkey has a free trade agreement. The agreement signed on July 14, 2009 has been in effect since March 1, 2011. Chile and Turkey agreed to discuss the possibility of negotiating a free trade agreement. To this end, the two governments have set up a joint working group on feasibility studies. Free trade negotiations began after the joint task force published its final report. The second round of negotiations took place on 11 July 2008 in Ankara, Turkey. Chile and Turkey held the third round of negotiations on 8 October 2008. The fourth round of negotiations was launched on 18 March 2009 in Ankara, Turkey. Two days later, Chile and Turkey concluded negotiations for a free trade agreement. On 14 July 2009, Chile and Turkey signed a free trade agreement. On the occasion of the second Joint Committee of the Chile-Turkey Free Trade Agreement from 25 to 26 March 2013, Chile and Turkey agreed to extend the scope of the free trade agreement to trade in services. Chile and Turkey also discussed other issues of bilateral interest. 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 has most actively implemented the free trade agreement between Turkey and Chile, which came into force in 2011. The main objective of the free trade agreement between Chile and Turkey is the creation of a free trade area Chile has signed 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. The volume of trade between the two countries amounted to about USD 579.3 million at the end of 2019 (Turkish exports: USD 343.8 million, Turkey-imports: USD 235.5 million). In 2008, Chile signed free trade agreements with Australia, Honduras and Colombia, while expanding its agreements with Peru and Cuba. The following agreements have been replaced by the European Union-Turkey customs union: Chile has also concluded bilateral “complementary economic agreements” with Bolivia, Peru, Venezuela, Argentina, Ecuador, Colombia and Mercosur, as well as a partial agreement with Cuba. This page lists the free trade agreements signed by Turkey.
 In 1995, Turkey signed a customs union with the European Union for products other than agricultural products and services. Since 2018, the EU has been Turkey`s main trading partner, with 50% of its exports and 36% of its imports.  Our first diplomatic representation in Santiago was commissioned in 1930, but closed the following year. It was later returned to service in 1944 and elevated to embassy in 1954. On the other hand, Chile`s first embassy in Turkey was inaugurated in 1940 and Chile`s first ambassador was appointed in 1957. 2016 marks the 90th anniversary of the beginning of diplomatic relations between Turkey and Chile. Chilean Foreign Minister H.E. Heraldo Muooz travelled to Turkey to speak ahead of the 8th Ambassadors` Conference on 12-14 January 2016.
During this visit, an exhibition on the documents of the two countries from the archives of the Ministry of Foreign Affairs was inaugurated. Bilateral political relations gained momentum in the mid-1990s. The then President of the Republic of Turkey, S.A. Demirel, visited Chile in April 1995.