At the II Summit of the Americas, held in Santiago, Chile in April 1998, the governments of Chile and the Central American countries - Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, announced their intent to negotiate a free trade agreement. Negotiations were launched in Managua, Nicaragua in August of that year, and, after five round of negotiations, the agreement was signed on 18 October, 1999 in Guatemala City, Guatemala.

The agreement consists of a common set of disciplines, applicable to the relationship between Chile and each of the Central American countries, with bilateral protocols negotiated subsequently between Chile and each Central American country. As such, the agreement would enter into force in stages as bilateral negotiations concluded. Chile and Guatemala concluded negotiations on 14 September 2007. On 07 December 2007 they signed their bilateral protocol.

Documents relating to the negotiations
07 December 2007	Chile and Guatemala sign bilateral protocol
14 September 2007	Chile and Guatemala conclude negotiations
03 August 2007	Chile and Guatemala continue negotiations of a bilateral protocol
18 June 2007	Chile and Guatemala continue negotiations of a bilateral protocol
01 September 1999	Conclusion of normative part of the free trade agreement between Central America and Chile
17 August 1998	Launch of negotiations of free trade agreement between Chile and the Central American countries
Source:  Ministerio de Comercio Exterior de Costa Rica (COMEX); Dirección General de Relaciones Económicas Internacionales, Chile (DIRECON)

The Chile-Costa Rica bilateral protocol, signed on 18 November 1999, was the first of the bilateral protocols to enter into force, on 14 February 2002. The Costa Rica - El Salvador bilateral protocol, signed on 20 November 2000, entered into force on 3 June 2002.

On 22 November 2005 Honduras and Chile concluded their bilateral negotiations and initiated internal procedures for the ratification and entry into force of the agreement.

Documents relating to the implementation of the agreement
22 November 2005	Honduras and Chile conclude bilateral free trade agreement negotiations
03 June 2002	Chile-El Salvador bilateral protocol
14 February 2002	Chile - Costa Rica free trade agreement enters into force
	Chile-Costa Rica bilateral protocol
31 July 2001	Chilean Parliament approves Chile-Costa Rica free trade agreement
Source:  Ministerio de Comercio Exterior de Costa Rica (COMEX); Dirección General de Relaciones Económicas Internacionales, Chile (DIRECON)

Chapter 18 of the Agreement creates a Free Trade Commission, comprised of ministers, which is to oversee the implementation of the agreement.

Documents relating to the implementation of the agreement
26 November 2004	Meeting of Free Trade Commission (Chile, Costa Rica and El Salvador)
03 September 2004	San José, Costa Rica. IV meeting of the Free Trade Commission
Source:  Ministerio de Comercio Exterior de Costa Rica (COMEX)

The Commission has issued a number of decisions relating to the implementation of the agreement.

Decisions of the Free Trade Commission
26 November 2004	Decision 10. Establishment of a consultative committee on private trade disputes set out in Article 19-21
26 November 2004	Decision 9. Approval of model rules of procedure established in Article 19.12 (model rules of procedure) and 19.10 (code of conduct)
26 November 2004	Decision 8. Approval of the list of arbitrators set out in Article 19.09 (List of arbitrators) and 19.10 (qualities of the arbitrators)
24 November 2004	Decision 7. Approval of the rules and procedures of the Free Trade Commission
04 October 2004	Decision 6. Chile grants El Salvador a quota of one thousand five hundred metric tonnes of sugar (trade classifications 1701.91 and 1701.99) with a tariff of zero in 2005
05 October 2004	Decision 5. Chile grants Costa Rica a quota of one thousand five hundred metric tonnes of sugar (trade classifications 1701.91 and 1701.99) with a tariff of zero in 2005
29 April 2004	Decision 4. Chile grants El Salvador a quota of one thousand five hundred metric tonnes of sugar (trade classifications 1701.91 and 1701.99) with a tariff of zero in 2004
	Decision 3. Incorporates El Salvador into the Free Trade Commission, the Free Trade subcommission and the Secretariat of the Chile-Central America free trade agreement
29 April 2004	Decision 2. Chile grants Costa Rica a quota of one thousand five hundred metric tonnes of sugar (trade classifications 1701.91 and 1701.99) with a tariff of zero in 2004
12 April 2002	Decision 1. Constitution of the Free Trade Commission, the Free Trade subcommission and the Secretariat
Source:  Ministerio de Comercio Exterior de Costa Rica (COMEX)

• Dirección General de Relaciones Económicas Internacionales (DIRECON), Chile
• Ministerio de Comercio Exterior de Costa Rica (COMEX)