Chile and China successfully conclude negotiations for a Free Trade Agreement

After nine months of talks, Chile and China concluded negotiations for a Free Trade Agreement (FTA). The announcement was made during the fifth round of negotiations which was held in Beijing, Popular Republic of China, on October 24th - 28th.

The Chile–China FTA is expected to be signed during the annual APEC Economic Leaders' Meeting in Busan, Korea, on November 18-19, 2005.

The FTA establishes an immediate elimination of the existing customs duties between both countries, benefiting 92% of the current Chilean exports to China. In the case of China, the immediate reduction elimination covers up to 50% of its exports to Chile.

Chile will enjoy immediate duty free access for its exports of copper, other minerals, some agriculture products and some wood products. Other goods such as frozen and fresh salmon, grapes, and apples, will be subject of a 10 year tariff phase out period.

Among the Chinese exports benefited from the FTA are machinery, computers, cars, cell phones, DVD’s, and printers.

The FTA also includes provisions on cooperation on a vast array of areas such as investment and economic promotion; intellectual property rights; culture; technology and scientific research; and industrial and mining matters.