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Chile favours India’s candidature to APEC: former President Eduardo Frei

October 29th, 2017 | Esther Parimala | Tags:

Oct 27, 2017

Chile is open to support the candidature for membership of India in APEC but all the resolutions for the entry of a new country its decided by all the members of the group, pointed out former Chilean President Eduardo Frei ahead of APEC Summit in Vietnam next month
Chile has an open economy and a stable institutional and political system, who installs a healthy business environment. With the 10 trade agreements signed between Chile and Latin-American countries, the possibilities to export and make business in the region are maximized, Frei told a select group of media here during his visit to push Indo-Chile economic partnership.
Even more, Chile is one of founders of the Pacific Alliance, the most successful integration movement of the history of the Latin American region. Actually, its functions are becoming to been a platform of political articulation, economic and commercial integration and projection to the world, with emphasis on the Asia-Pacific region, noted Frei
I would like to express that the Trade Agreement that India and Chile was established in 2007, and then expanded in 2017 is not a Free Trade Agreement (FTA), it’s a Preferential Trade Agreement (PTA). The nature of this Agreement is relative minus ambitions of an FTA, because it’s does not contain chapters related intellectual propriety, electronic commerce, gender issues, environment or investment, among others. The entry on force of the PTA plus, has been the 16th of May of 2017, only 5 month ago. For this reason, today, is difficult to highlight an increase in trade on either side.

Source: The Economic Times

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