Most export product of China was light textile, electromechanical products and plastic products; and the most import product of China from Chile was copper, fish powder, fruit and wine, etc. China and Chile also maintained sound cooperation relations in service trading and investment with a broad developing prospect.
The trade liberalization process China and Chile started will further inspire the huge potential of bilateral economic and trade cooperation, make more closely links on economic and trade cooperation.
China and -Chile will start tariff reduction in an all round way from the second half of 2006 after China –Chile FTA going through approval process in each country. For Chile, 74% of import tariff numbers will be zero rated after the Agreement coming into effect, and for China, 63% of import tariff numbers will be zero rated in 2 years.
Besides, this Agreement provides that the two Parties would accelerate tariff reduction when coming to a consensus through consultation, would enhance cooperation in areas of economy, small and medium seized enterprises, culture, education, science and technology, environmental protection, labor and social security, IPR protection, investment promotion, mining and industry.
The Agreement have 14 chapters and 121 articles, consisting of Initial Provisions, General Definitions, National Treatment and Market Access, Rules of Origin, Procedures Related with Rules of Origin, Trade Remedies, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Transparency, Dispute Settlement, Administration of the Agreement, Exceptions, Cooperation and Final Provisions.
Ministry of Commerce of the People's Republic of China
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