Officials from the Chilean government have stressed the importance of signing a free trade pact between Chile and Russia, underlining its wishes to remove barriers to trade in earnest. Although the text of the agreement is still in its infancy, delegations from both countries have affirmed their commitment to a rapid conclusion of the pact to liberalise trade.
Speaking after a four-day visit in April Chilean President Michelle Bachelet said:
”Trade between Chile and Russia, approximately USD400m annually is still modest but has enormous growth potential,” underlining that cooperation could also be enhanced in the defence and energy sectors. For his part, Russian President Dmitri Medvedev underlined that there are ‘great prospects’ for boosting cooperation in various areas, and noted that a free trade pact would open up further trade possibilities within Latin America for Russia.
In order to speed the removal of barriers to trade, on June 16 the two governments agreed to the creation of a business platform in order to facilitate increased trade in agricultural goods. Currently fruit and meat account for the majority of trade between the two countries.
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