China, Chile Work Towards Enhanced Free Trade Agreement,
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, September 6, 2017
China and Chile recently held a third round of talks towards upgrading their free trade deal.
China and Chile signed a free trade agreement in November 2005, which was implemented in October 2006. It was the first ever FTA signed between China and Latin America. China is now Chile's largest trade partner, while Chile is China's third-largest trade partner in Latin America.
It was agreed in November 2016, during a visit to Chile by President Xi Jinping, that the two countries would return the negotiating table to expand the agreement, which provides for the removal of tax and non-tax barriers to trade and investment.
China's Commerce Ministry said "great progress" was made in the areas discussed: trade in goods and services, economic and technological cooperation, customs procedures and trade facilitation, rules of origin, competitive policies, e-commerce, and government procurement.