Authorities from Chile and Viet Nam successfully completed the Eighth Negotiation Round for signing the Free Trade Agreement (FTA), The meeting was attended by the bilateral director of the Directorate General for International Economic Relations (Direcon) from Chile, Rodrigo Contreras; and the general director of Trade Policy, Ministry of Commerce and Industry from Viet Nam, Nguyen Khien.
In the head of the Chilean delegation’s opinion, as is the case of the pact signed with China, “the FTA agreement is focused on property and the incorporation of the disciplines of Service Trade and Investment was postponed for a second stage.” Khien valued the high spirit of cooperation and understanding between the two delegations.
Once this agreement comes into force, 73 per cent of Chilean exports will enter the Vietnamese market without paying tariffs. The rest of the products will enter the Asian country with a reduced tariff in terms ranging from 3 to 15 years.
As for the sanitary and plant measures, the two parties agreed to facilitate trade between the two countries, establishing the monitoring of the progress of the product access when they need sanitary and plant permission.
In the Asean bloc, Viet Nam is the third destination of Chilean shipments.
In 2010, Chilean exports to Viet Nam totalled US$ 231 million, while imports recorded US$ 107 million, informed Aqua.
According to ProChile, “the growing trend of ‘Westernization’ in consumer habits and a significant number of foreigners residing in the Asian country make the Vietnamese growing market promising for Chilean salmon.”