The EU-Chile Interim Trade Agreement (ITA) has come into effect, marking a significant milestone in their bilateral relations. The agreement aims to enhance cooperation in various areas, including the development of critical raw materials value chains for lithium and copper, and the production of green hydrogen in Chile. This agreement will boost competitiveness for businesses on both sides and support the transition to net-zero economies. It will eliminate tariffs on the majority of EU exports to Chile and ensure a level playing field for goods. Additionally, the ITA will foster sustainable flows of raw materials, provide a framework for energy and raw materials investments, and facilitate the access to critical resources like lithium, copper, and clean hydrogen. The agreement also focuses on improving trade in services, treating investors equally, and enhancing opportunities for small businesses. Furthermore, it underlines a commitment to sustainability with provisions for trade and sustainable development, gender equality, and sustainable food systems. Intellectual property rights are safeguarded, and a significant number of European and Chilean food products are protected through geographical indications. This agreement demonstrates the dedication of both parties to sustainable trade, innovation, and shared values. Overall, the EU-Chile Interim Trade Agreement sets the stage for a stronger partnership that prioritizes sustainable economic development and green initiatives.