Hong Kong and Chile last month signed a free trade agreement that should see further trade and investment between the two economies.
The accord was signed in Vladivostok, Russia where officials from the two countries were attending the annual Asia-Pacific Economic Cooperation (APEC) summit.
According to a report in the Hong Kong Trader, the agreement is the first of its kind between Hong Kong and a Latin American nation.
Chilean president Sebastian Piñera praised the signing, saying exports to the Asian nation could double as a result. “An economy as innovative and technologically advanced as that of Hong Kong joins forces with an economy like Chile’s, which is also innovative and growing, to make Chile a developing country without poverty,” he said.
Speaking at the ceremony, Hong Kong Financial Secretary John Tsang praised the relationship the two countries share and their combined commitment to free trade and open investment.
"The free trade agreement signed today will further strengthen our partnership and serve as a platform to take our bilateral economic relations to a new level, offering a wealth of opportunities for our businesses as well as investors," Tang said.
Chilean exports to Hong Kong grew 19 per cent to US$359m in the first half of 2012 after increasing seven per cent to US$408m in 2011. Fresh and dried fruits account for 83 per cent of Chilean exports to Hong Kong.
