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Chile Reports On Benefits Of FTAs

by Mike Godfrey, Tax-News.com, Washington

10 July 2015


94 percent of Chile's exports are now covered by concessionary treatment under free trade agreements (FTAs) concluded by the nation, according to a new report from Chile's General Directorate for International Economic Affairs (DIRECON).

Andrés Rebolledo Smitmans, the head of DIRECON, said that the 24 trade agreements signed by Chile with 63 economies in recent decades have been indispensable for improving the country's access to international markets.

The Foreign Trade Report 2014-2015 said that Chile's foreign trade amounted to USD148bn in 2014, with FTA partners accounting for 92.4 percent of that amount.

Last month DIRECON reported that bilateral trade between Chile and the United States has increased fourfold since the two countries signed an FTA.

The country also announced last month that it has taken the first step towards an FTA with the Eurasian Economic Union, a trade bloc comprised of Russia, Belarus, Kazakhstan, and Armenia.

TAGS: Russia | tax | free trade agreement (FTA) | Chile | export duty | accounting | tariffs | Armenia | agreements | Belarus | Kazakhstan | United States | import duty | trade

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