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India, Chile Preferential Trade Agreement soon
Chilean Foreign Minister meets Jaitley
Date : 25 Apr 2003
Location : New Delhi
A Preferential Trade Agreement between India and Chile is on the anvil with a proposal for such an agreement under active examination of both the governments. This was indicated when the Foreign Minister of Chile, Ms. Maria Soledab Alvear, along with her delegation called on Shri Arun Jaitley, Minister of Commerce and Industry, here last evening. Shri Jaitley said that India would be keen to negotiate a Preferential Trade Agreement (PTA) with Chile which would enhance competitiveness in each other’s markets and urged early finalisation of the draft text of the agreement. Responding to a suggestion for a free trade agreement between India and Chile, Shri Jaitley said that based on the operationalisation of the PTA, an FTA could also be explored at a later stage. Shri Dipak Chatterjee, Commerce Secretary, was present at the meeting.
Both the Ministers noted the recent buoyant trend in bilateral trade and underlined the possibilities for enhancing trade and economic cooperation through investment and joint ventures.
Chile has already successfully concluded negotiations for FTA with the US and has concluded Free Trade Agreements with the European Union, Canada, Mexico and South Korea. The objective of having a PTA with Chile is to increase bilateral trade between the two countries and to provide Indian exporters an access to the important Latin American market.
SB/PM/MRS
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