Japan, Chile to hold 1st formal FTA talks on Feb. 23-24
February 13, 2006
Japan, Chile to hold 1st formal FTA talks on Feb. 23-24+
(Japan Economic Newswire Via Thomson Dialog NewsEdge) TOKYO, Feb. 13 (Kyodo) - Japan and Chile will hold their first official negotiations aimed at sealing a bilateral free trade agreement on Feb. 23-24 in Tokyo, Vice Economy, Trade and Industry Minister Hideji Sugiyama said Monday.
The leaders of the two countries agreed last November to kick off the formal FTA talks after conducting joint study sessions on such an accord for nearly one year.
The Latin American nation has FTAs with more than 35 countries including the United States, Canada, and South Korea, as well as the European Union. Japan has such a pact with Singapore and Mexico.
In 2004, Chile exported to Japan $3.7 billion worth of copper ore, salmon, trout and pork, with Japan exporting $800 million worth of goods, including automobiles, to Chile.
The Latin American country puts a 6 percent tariff on Japanese industrial goods imports, while Tokyo maintains a certain level of tariffs on major Chilean imports including salmon, pork, trout and sea urchin.
