Chile Moves Closer To Sealing Trade Agreement With India

by Dave

 Real Time Market News | Dow Jones

Chile is a step closer to sealing a free-trade agreement with India, the remaining economic superpower it has yet to sign one with.

The Andean nation currently has various types of free-trade agreements with 58 countries, including the U.S., China, and the European Union, representing 60% of the global population.

Chile and India signed a preferential trade agreement that has been in force since 2007, making Chile India’s first trade partner in Latin America. The two countries now look to deepen their investment and trade ties.

“I firmly believe that we need to set the foundation to be able to take this relationship to the next level….There are tremendous amount of complementarities between both our economies,” India’s Commerce and Industry Minister, Jyotiraditya Scindia, told Dow Jones Newswires. Despite being on opposite sides of the world and having vastly
different economies, India and Chile are both on firm footing
following the global financial crisis.
Chile is one of the world’s leading exporters of natural
resources such as copper, woodpulp, fishmeal, nitrates, iodine,
molybdenum and lithium.

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