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India-Chile trade accord likely

By Our Special Correspondent

NEW DELHI APRIL 25. India and Chile are considering signing a preferential trade agreement (PTA) in a bid to increase bilateral trade. According to the Commerce and Industry Minister, Arun Jaitley, India would be keen to negotiate a PTA with Chile which would enhance competitiveness in other markets.

Speaking to the visiting Chilean Foreign Minister, Maria Soledab Alvear, he said based on the operationalisation of the PTA, a free trade agreement (FTA) could also be explored at a later stage. He sought early finalisation of the draft text of the agreement.

An official release said both Ministers noted the recent buoyant trend in bilateral trade and underlined the need to strengthen trade and economic cooperation through investments and joint ventures. Chile has already concluded negotiations for FTA with the U.S. and agreements with the European Union, Canada, Mexico and South Korea.

The objective of the PTA with Chile is to increase bilateral trade between the two countries.

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