Conclusion of bilateral free trade agreement (FTA) between U.S. a...

audiovisual sectors to the Chilean market. (2) Giving reasonable and nondiscriminatory access to Chilean telecom networks, including right of U.S. phone companies to interconnect with Chilean networks, to use telephone switches and other facilities and to lease elements of networks. (3) Requiring nondiscriminatory treatment of digital products and nonimposition of customs duties on those products. (4) Granting high level of intellectual property rights, including ensuring govt. involvement in resolving cybersquatting disputes, strong copyright protection with anticircumvention provisions, and limited liability for ISPs for online copyright infringement. (5) Providing tough penalties for piracy and counterfeiting. FTA represents “landmark achievement on market access for the filmed entertainment industry,” Motion Picture Assn. Chmn. Jack Valenti said. Movie industry also praised FTA’s state-of-art commitments on e-commerce and its “groundbreaking” copyright provisions. While agreement’s details aren’t yet public, RIAA Exec. Vp Neil Turkowitz said, “it would appear that U.S. negotiators have added an important new element in the global legal system for the protection of intellectual property.” Incoming Senate Finance Committee Chmn. Grassley (R-Iowa) called FTA “a good development for both countries.” While he’s reserving final judgment until he has reviewed text of FTA, he said, it “appears solid.” U.S.-Chile FTA could have important implications for future bilateral trade agreements and regionwide Free Trade Area of Americas now under negotiation, he said.