The present invention is directed to a novel process for the preparation of (4-chloro-phenyl)-(3-trifluoromethyl-phenoxy)-acetic acid 2-acetylamino-ethyl ester, useful in the treatment of metabolic disorders and further to a process for the preparation of (4-chloro-phenyl)-(3-trifluoromethyl-phenoxy)-acetic acid, a synthesis intermediate.