Reinforcement of the FTA with South Korea

Chile wants to improve the access of fruit to Vietnam

The Directorate General of International Economic relations (Direcon) stated that Chilean authorities were on a tour in Asia to start deepening the Free Trade Agreement (FTA) with South Korea and to improve access conditions for Chilean fruit products to Vietnam.
 
The FTA between Chile and South Korea has been operating for 12 years; however, analysts have stated that there is a possibility of deepening the agreement by incorporating elements that would help stimulate bilateral trade, promote mutual investment, and greater economic cooperation.
 
In 2003, before the agreement, bilateral trade was close to 1.6 billion dollars, while in 2015, it amounted to more than 6 billion, i.e. an increase of more than 300%, stated Direcon.
 
Between July 13 and July 16, the Chilean delegation will visit Vietnam, where they plan to meet with officials of the Committee on Sanitary and Phytosanitary Measures for the purpose of reviewing certain rules for the entry of fresh fruit.
 
Both countries share an FTA in force since 2014 that covers more than 9,000 products in different categories of tariff reduction.


Source: maracotradenews.com

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