These two regulations will allow the Internet to act as a catalyst for innovation and economic development, so that both countries exploit the export potential of digital products from Chile and Uruguay, while creating the necessary conditions to increase trade in a large number of goods and services. Uruguayan President Tabaré Vázquez announced at a meeting of his cabinet on August 1 that Uruguay would sign a free trade agreement (FTA) with Chile in September that tightens rules governing bilateral trade in goods and services. The sectoral breakdown of bilateral trade flows shows that chemicals account for a significant share. In 2016, this sector accounted for 17.4% of Chile`s exports to Uruguay, mainly due to potash sales, and nearly 35% of its imports from Uruguay, with medicines playing a leading role.