Plan for Free Trade Agreement with Chile
According to Chile’s General Director of International Economic Relations, Andres Rebolledo, Chile and the Dominican Republic plan to formally start negotiations towards a free trade agreement (FTA) in April this year. Free trade agreements, including one in the pipeline with Canada that was at an advanced stage, were put on hold after the signing of DR-CAFTA with the United States and the Central American nations.
A Chilean delegation led by Rebolledo traveled to the Dominican Republic on 12 January 2015 to establish the basis for the FTA talks.
Rebolledo said that a feasibility study has already been conducted to determine the potential benefits of an FTA between the two countries. The negotiations may lead to the removal of all trade tariffs in the long term.
Chile currently has FTAs in place with more than 60 economies, representing 63.3% of the world’s population and 85.3% of global GDP. It was recently announced that the country plans to launch FTA negotiations with the Philippines in March.
The Dominican Republic’s FTA network covers most of Latin America.
Source: DR1, tax-news
Category: DR News |