Officials from Chile and India have met in New Delhi to finalise negotiations to expand the partial scope agreement (AAP) signed by both countries 2007.
Part of a move to strengthen bilateral trade, the negotiations have focused on increasing trade and reducing tariffs on some 2,800 products, up from 474 products agreed upon originally. New products would include Chilean exports of cherries, onions, avocados, grapes, kiwifruit, mandarins and juices.
Around 90 per cent of Chile’s exports to India have lowered tariffs under the current AAP, but further negotiations on preferential tariffs would give a boost to trade, according to Pablo Urria, director of bilateral economic trade at Chile’s Direcon.
“This process forms part of the strategy of integrating Chile’s trade in Asia, especially in markets where Chile already has trade agreements,” Urria said in a Direcon statement. “This coincides with in an increasing interest from Chilean exporters as India’s market open; a country characterised by high tariffs in sectors vital to Chile’s export potential.”
“Year on year we’re seeing a strong increase in the volume of fruit we export to India and given the country has more than 1bn inhabitants, there is significant potential to further develop the market,” said Ronald Bown of Chilean export association Asoex in late September.
Chile’s exports to India grew 83 per cent in the first half of 2014, with fresh fruit exports to India rising 174 per cent in the same period to US$40m.
No comments yet