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China and Chile FTA to widen scope

China and Chile are in talks to expand the 10-year-old free trade agreement between the two sides, to boost trade in agricultural products and develop logistics and financial services, Chilean officials said on Wednesday.

Both countries sealed a FTA deal in November 2005 that has since made China the South American country's largest trade partner. Bilateral trade amounted to $34.1 billion in 2014, five times greater than before the pact was signed in 2005, data from the Ministry of Commerce show.

China is Chile's largest export destination for cherries and blueberries in Asia, and consumed 80 percent of Chile's total cherry output in 2015. Eager to compete with established rivals such as New Zealand in the field of dairy products export, Chile also shipped 6,000 dairy cows to Chinese markets through maritime transportation last year.

Source: China Daily

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