Brussels, 06/03/2002 (Agence Europe) - the European Union and Chile have entered the last round of negotiations on free trade and Association Agreement negotiations during the ninth negotiations session taking place this week in Santiago. The European Commissioner for Trade, Pascal Lamy and the Chilean Minister for Foreign Affairs, Soledad Alvaer confirmed, duiring the inauguration of the session that they wanted to conclude an agreement at the the EU/Latin America/Caribbean Summit on 17-18 May in Madrid. The final difficulties should be removed during the next meeting in April in Brussels. The commissioner pointed out to the press that, "Painful" points are to be located in the areas of "fishing, wine and spirits, financial services and the public markets" Mr Lamy added that he thought that finding a balance between the two parties on these sensitive issues would be possible. Under pressure from Spain, the EU is demanding access for its fishermen to Chilean waters, which has hitherto been refused by the Chilean authorities in the name of protecting fish stocks. Negotiators are banking on a solution based on the creation of joint ventures in the fisheries sector. Requested by France in particular, the Europeans are hoping for an agreement on the recognition of regional labelling, as in the case of Champagne, as well as an opening for Whisky. Chile put forward a solution with regard to its financial services, which the European had been eagerly awaiting and who were hoping for an opening up that would be greater than that achieved by Chile at the WTO. Chile is hoping to gain preferential access for certain agricultural products such as fresh fruit, jams, toamato juice and some vegetables. It is also asking the European to end subsiding exports of products that will be liberalised.