Chile proposes free-trade pact with India news
17 March 2009

Chilian president Michelle Bachelet has called for enhanced commercial ties with India building on an already existing preferential trade pact with this country.

At a luncheon meeting with apex business chambers, president Michelle Bachelet, who is on a visit to this country, said her country was keen on promoting the preferential trade pact with India to a full-fledged free trade agreement.

''The conditions have arrived to take step forward to increase our commercial links,'' Bachelet told a meeting of Ficci, Assocham and CII. ''I hope this will be a prelude to sign an FTA with India as soon as possible," she added.

The two countries have agreed to take steps for doubling the bilateral trade, which was a mere $2.09 billion in 2007-08.

Chile has decided to open a commercial and investment office here for facilitating commercial ties.

Earlier in the day, the two countries signed four agreements to strengthen their bilateral ties in the areas of space, renewable energy, education and mineral resources.

Later, during talks with Prime Minister Manmohan Singh, the Chilian president also backed India's efforts for a permanent seat in the UN Security Council.

Both Singh and Bachelet called for enhanced international cooperation and exchange of information to enhance the ability of the governments to fight all forms of terrorism.

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Chile proposes free-trade pact with India