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India, Chile start talks for further expansion of trade agreement

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Christian Fernsby ▼ | February 10, 2020
India and Chile have started negotiations for further expansion of a trade agreement with a view to boost two way commerce and economic ties, an official said.
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Both the countries signed a preferential trade agreement (PTA) on March 8, 2006 and it came into force from August 2007.

Topics: India Chile trade

In 2016, India and Chile expanded the scope of the agreement by including more products.

The two countries have again initiated talks for second expansion of the trade agreement, the official said.

The first round of negotiations with Chile on the second expansion of India Chile PTA was recently concluded.

"Both sides have decided to hold the next round of the talks in Santiago in Chile during March or in the first half of April," the official added.

In a PTA, two trading partners significantly reduce or eliminate import duties on certain goods traded between them.

The official said the wide variety of tariff lines or products offered by Chile, the expanded PTA would benefit both the countries.

Among the latin american countries, Chile is one of the largest trading partners of India.


 

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