Chile Seeks South America's First FTA With India
18/11/2012 52
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The governments of Chile and India have agreed to commence negotiations towards a full free trade deal to replace the partial scope agreement currently in place between the two countries.
Chilean Ambassador, Christian Baros told a recent event hosted by the Indian Chamber of Commerce that the free trade agreement could be in place within two years, and that trade flows could be doubled very quickly as a result.
Chilean exports to India during the first six months of 2012 were worth USD1.36bn, while Indian exports, mainly of manufactured goods, were worth USD310m.
The government of Chile is to target new free trade agreements in Asia as part of its plan to boost the nation's economic growth potential, and help the nation attain developed country status by 2020.
The Chilean government has further announced that it has held another round of free trade negotiations with Morocco, and in the coming days is to embark on a trade mission to Turkey to discuss expanding the bilateral free trade agreement that entered into force on March 1, 2011. It had been agreed that two years following the pact's entry into force, new chapters on services and investment could be added.
November 13, 2012
Source: Tax News
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