Chilean President Signs Free Trade Agreement with Turkey

[2009-07-15 14:53:47]

Chilean President Michele Bachelet signed on Tuesday a free trade agreement (FTA) with Turkey, which will allow 98 percent of their bilateral trade to be duty free.

This is the first FTA between Turkey and a Latin American country.The agreement promises a potential market of more than 70 million customers for Chile.

"This trade agreement signed by Chile can be an entrance to an economic zone of great potential, which is practically unexplored for us," Bachelet said.

Many sectors in Chile, including mining, agriculture, fishing and forestry, will benefit from the agreement. The FTA have to be ratified by both nations' legislatives to become effective.

Source: Xinhua
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