Chile has signed free trade agreements with countries such as China, the United States, Canada, South Korea, as well as European Union, and it's a member of the APEC.

[2]: 271  However, on 20 January 1839 the Chilean force obtained a decisive victory against Peru-Bolivia at the Battle of Yungay and the short-lived Peru-Bolivian Confederation came to an end.

The Argentine explorer Francisco Perito Moreno suggested that many Patagonian lakes draining to the Pacific were in fact part of the Atlantic basin but had been moraine-dammed during the quaternary glaciations changing their outlets to the west.

The difficulties that may arise due to the existence of certain valleys formed by the bifurcation of the Cordillera and where the dividing line of the waters is not clear, shall be resolved amicably by two experts appointed, one from each party.

[11]On 20 August 1888, an agreement was signed to carry out the demarcation of the limits according to the 1881 treaty, appointing the experts Diego Barros Arana for Chile and Octavio Pico Burgess for Argentina.

[12] In 1892, Barros Arana presented his thesis according to which the 1881 treaty had fixed the limit in the continental divortium aquarum, which was rejected by the Argentine expert.

[16] In January 1894, the Chilean expert declared that he understood that the main chain of the Andes was the uninterrupted line of peaks that divide the waters and that form the separation of the basins or tributary hydrographic regions of the Atlantic to the east and the Pacific to the west.

The Argentine expert Norberto Quirno Costa (Pico's replacement) replied that they had no authority to define the meaning of the main chain of the Andes as they were only demarcators.

In the minutes of 1 October 1898, signed by Diego Barros Arana and Francisco Moreno (Quirno Costa's replacement, who resigned in September 1896) and by his assistants Clemente Onelli (from Argentina) y Alejandro Bertrand (from Chile), the experts: agree with the points and stretches indicated [...] 331 and 332 [...], resolv[ing] to accept them as forming part of the dividing line [...] between the Republic of Argentina and the Republic of Chile [...].On the attached map, point 331 is Fitz Roy and 332 is Mount Stokes, both being agreed as boundary markers, although the former is not on the watershed and was taken as a natural landmark.

[14] When the experts could not agree on different stretches of the border, it was decided in 1898 to resort to Article VI paragraph 2 of the 1881 Boundary Treaty and request Queen Victoria of the United Kingdom for an arbitration ruling on the issue, who appointed three British judges.

In the light that influential Bolivian politicians considered the Litoral Province to be lost forever, the adjacent Puna de Atacama appeared to be a remote, mountainous and arid place that was difficult to defend.

As foreseen, there was no accord at the conference, and Buchanan proceeded with the delegates of Chile, Enrique Mac Iver, and Argentina José Evaristo Uriburu, to define the border.

More significantly the two countries divided their influence in South America into two spheres: Argentina would not threaten Chile's Pacific Coast hegemony, and Santiago promised not to intrude east of the Andes.

In 1958 the Argentine Navy shelled a Chilean lighthouse and disembarked infantry in the uninhabitable islet Snipe, at the east entrance of the Beagle Channel.

The Encuentro River-Alto Palena boundary dispute was a territorial dispute between the Republic of Argentina and the Republic of Chile over the delimitation of the boundary between milestones XVI and XVII of their common border in the valleys located north of Lake General Vintter/Palena (formerly Lake General Paz), which was resolved on November 24, 1966 by means of an arbitration decision of Queen Elizabeth II of the United Kingdom.

On 2 June 1982 the newspaper La Prensa published an article by Manfred Schönfeld explaining what would follow Argentina's expected victory in the Falkland Islands: Argentine General Osiris Villegas demanded (in April 1982) after the successful Argentine landing in the Falklands that his government stop negotiations with Chile and seize the islands south of the Beagle.

Particularly, the treaty defines the border delineation and freedom of navigation in the Strait of Magellan and gives possession of the Picton, Lennox and Nueva islands and sea located south of Tierra del Fuego to Chile, but the most part of the Exclusive Economic Zone eastwards of the Cape Horn-Meridian to Argentina.

[49] Despite the Pactos de Mayo agreement, in 2004 Argentina proposed to establish a "corridor" through Chilean territory under partial Argentine administration as a Bolivian outlet to sea.

Both experts, Francisco Pascasio Moreno from Argentina and Diego Barros Arana from Chile agreed on the border between Mount Fitz Roy and Cerro Daudet.

The dictator and last president of the Argentine Military Junta, General Reynaldo Bignone, called for democratic elections in 1983, and Augusto Pinochet of Chile did the same in 1989.

Although Chile acknowledges the Argentine claim as legal, it does not support any special party continuously calling for peaceful negotiations to resolve the matter.

[88][89] In August of the same year, Chile made the oral presentations of both partial submissions during the 55th Session of the Commission on the Limits of the Continental Shelf at the United Nations in New York.

[99] In 2003, Argentine AFA's president suggested that both countries launch a joint bid for the 2014 FIFA World Cup but was abandoned in favor of a CONMEBOL unified posture to allow the tournament be hosted in Brazil.

Beginning in 2009, the Dakar Rally began to be held in South America, and both Argentina and Chile have collaborated in organizing the annual cross-border event multiple times.

[100][101] Argentina's and Chile's clash in Pool D of the 2023 Rugby World Cup in France marked the first ever encounter between two South American teams since the inception of the tournament in 1987.

In September 1991 they signed together with Brazil, the Mendoza Declaration, which commits signatories not to use, develop, produce, acquire, stock, or transfer —directly or indirectly— chemical or biological weapons.

[107] In 2005, while the Argentine Navy school ship ARA Libertad was under overhaul, Argentine cadets were invited to complete their graduation on the Chilean Navy school ship Esmeralda[108] and in another gesture of confidence, on 24 June 2007, a Gendarmeria Nacional Argentina (Border Guard) patrol was given permission to enter Chile to rescue tourists after their bus became trapped in snow.

[112] Apablaza is accused by Chile of being involved in the murder of Chilean Senator Jaime Guzmán in 1991, during the government of Patricio Aylwin, as well as the kidnapping of the son of one of the owners of the El Mercurio newspaper.

On 19 May 2010 the United Kingdom presented a note verbale rejecting the Argentine government's decrees and stipulating that the UK considered the decrees "are not compliant with International Law including the UN Convention on the Law of the Sea ”, and with respect to the Straits of Magellan the note recalls that "the rights of international shipping to navigate these waters expeditiously and without obstacle are affirmed in the 1984 Treaty of Peace and Friendship between Chile and Argentina with respect to the Straits of Magellan".

[119] Article 10 of the 1984 Treaty states "The Argentine Republic undertakes to maintain, at any time and in whatever circumstances, the right of ships of all flags to navigate expeditiously and without obstacles through its jurisdictional waters to and from the Strait of Magellan".