CHILE.
FREE TRADE AGREEMENT WITH AUSTRALIA.
Chili’s Foreign Minister Alejandro Foxley, was in Australia and signed a Free Trade Agreement (FTA) in Canberra last year.
The minister said that the signing of numerous other agreements with Australia, to work together on the Asian market will come into force this year.
Following the signing of the agreement, it had to be ratified by both parliaments.
The agreement became effective on January 1 2009, reducing current tariffs by up to 97 pc.
The current trade between the countries is US$850 million.
More countries are going to opt for FTA in the wake of the breakdown of the WTO talks.
Farm leaders in Australia and Chile have slammed the breakdown of the WTO talks last year in Geneva..
