'India, Chile preferential trade pact this month'

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SME Times News Bureau | 05 Nov, 2012
Confident of concluding a Preferential Trade Agreement (PTA) with India this month, Chile's envoy Saturday said the pact will diversify trade and double bilateral trade by 2015-end.

"We are in a position to conclude the PTA with India by November. But we must consider the views of the different ministries and wait for their response. I am confident it will be done this month," Ambassador Christian Baros said here.

He said officials from both countries were in discussion over finalising the Free Trade Agreement (FTA).

"Frequent talks are held... Since FTA involves a lot of deliberations over a lot of matters, it would take time before we reach an agreement. We are hopeful the pact will be ready in two years," said Baros.

Taking part in an Indian Chamber of Commerce organised interactive session, Baros said the agreement will bring under its ambit as many 2,000 items.

"Our trade with India currently stood at $2.5 billion. We hope with the conclusion of the pact it will get doubled by the end of 2015."

"Almost 80 percent of our trade with India consists of copper. But now that PTA is almost ready, we hope we will trade in many more items," added Baros.