Union Ministry announces Implementation of the expanded India-Chile PTA

Posted on:15 May 2017 14:03:08
Union Ministry announces Implementation of the expanded India-Chile PTA
15 May 2017 Current Affairs:

  • India and Chile will implement a bilateral expanded Preferential Trade Agreement (PTA) from May 16, 2017.

  • India-Chile PTA which was signed on 6th September 2016.

  • The original PTA had a limited number of tariff lines, wherein both sides had extended tariff concessions to each other.

  • The expanded PTA has a wider coverage of tariff concessions which covers around 96 percent of bilateral trade.

  • Currently, Chile is the fourth largest trading partner of India in LAC (Latin America and the Caribbean) region after Brazil, Venezuela and Argentina.


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