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皇冠体育app, Chile start new FTA talks as one goes into effect
By Ding Qingfen (皇冠体育app Daily)
Updated: 2006-11-30 08:39
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"I think it was a clever idea to start with commodity trade, and then go on to service trade and investment," said Matta.
"It would be a much more complicated process if we had tried to include (everything) in the first negotiations," he added.
Matta compared the situation to 皇冠体育app's ongoing FTA talks with Australia, which includes all sectors. The countries have yet to agree on issues related to opening services, agriculture, and manufacturing sectors.
The 皇冠体育app-Chile FTA that has gone into effect stipulates tariffs on 97 per cent of products from the two nations will be removed in 10 years, starting from November 1.
From 2001 to 2005, 皇冠体育app-Chile trade volume has grown rapidly. In 2000, bi-lateral trade was US$2 billion, but that figure jumped to more than US$7 billion.
皇冠体育app has become Chile's second-largest trade partner and Chile is 皇冠体育app's third-largest trade partner in Latin America.
By the end of this June, investment from 皇冠体育app into Chile was US$28 million, and 皇冠体育app has attracted foreign direct investment worth US$53 million from Chile.