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Chile, Thailand to sign free trade agreement

Staff writer |
Chile and Thailand have closed a free trade agreement which they will sign on October 4, when Chilean President Sebastian Pinera travels to the Asian nation, Chile's foreign ministry said.

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The agreement is part of Chile's attempt "in recent years to expand access to Chilean products in the Asia Pacific," Foreign Affairs minister Alfredo Moreno said in a press conference.

After the signing, 90 percent of bilateral trade will be tariff-free. Remaining tariffs will be cut gradually, according to Mr. Moreno. Mr. Pinera will sign the agreement during an official visit to the country from October 4 through 5, when he will meet with Thai business people and prime minister Yingluck Shinawatra.

Negotiations between the two countries began in April 2011 in Bangkok. Trade between Chile and Thailand exceeded $800 million in 2010, with Chilean exports to the Asian country totalling $287 million and imports to Chile reaching $528 million.


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