Chilean exports to South Korea have increased by 296% in the 14 years that have passed since they signed an agreement, which was the first agreement signed between a Latin American and an Asian country, and one which the authorities are willing to continue strengthening.
To do this, last week a delegation from South Korea arrived in Chile to discuss the terms of reference of a modernization of the Free Trade Agreement (FTA) that will seek to reduce the tariff barriers there still are for 458 products, which in the first negotiation had been left pending for the Doha round (Doha Development Agenda, DDA) which never advanced.
"The main advantage of this process lies in the tariff concessions that can be obtained for the products in Korea's list in category DDA (458), for excluded products (21), and the extension of access, or total release, for products subject to quotas. The products of interest for Chile include bovine and poultry meats, dairy products, honey, garlic, citrus fruits (especially oranges), plums, strawberries, and grape juices," stated the Director of Bilateral Economic Affairs of the Directorate of Economic Relations (Direcon), Felipe Lopeandia.
Another goal in this negotiation is to strengthen binational collaboration to attract greater investment from South Korea to different strategic sectors, such as water resources management, energy, education, and the food sector, said the official, who stressed that Korea still hadn't stated what its interests are.
Source: Pulse