Chile to sign modernization of bilateral agreement with the EU next week

SANTIAGO (Reuters) - Chile's President Gabriel Boric said Tuesday that the minister of foreign affairs will travel to Brussels at the end of the week to sign a modernization of a bilateral agreement with the European Union.

The trading bloc and Chile entered an Association Agreement in 2002, which includes a free trade agreement that started in February 2003.

Foreign Minister Antonia Urrejola "is going to travel to Brussels to close and sign the political agreement that modernizes the Association Agreement," Boric said during a speech at an event for foreign and local investors.

"With the European Union we share not only a robust commercial exchange, but we also have shared values," he added.

Boric did not provide details of the modifications that the new document will contain.

The EU had accelerated its efforts this year to conclude trade deals with other markets as the bloc adjusts to the war in Ukraine.

(Reporting by Fabian Cambero; Writing by Valentine Hilaire; Editing by Sarah Morland and Chizu Nomiyama)