Chinese School - China, Chile start new FTA talks as one goes into effect

BIZCHINA / Center

China, Chile start new FTA talks as one goes into effect

By Ding Qingfen (China Daily)
Updated: 2006-11-30 08:39

China and Chile will start negotiations for a free trade agreement (FTA)
covering service trade and investment next January, the countries said
yesterday.

"The talks are expected to be wrapped up by the end of 2008, or earlier
than that, maybe the middle of 2008," said Fernando Reyes Matta, Chile's
Ambassador to China.

Though the talks have been on the table since late September, they
probably won't "enter into a substantive stage until January 2007," said
Zhang Bing, an official of the department of international trade and
economic affairs with the Ministry of Commerce (MOFCOM).

When asked about expected challenges for the coming talks, both were
upbeat about the prospects.

"The agreement on service trade and investment, if signed, will further
promote bi-lateral trade thanks to the bigger role of the service trade
in contributing to China's trade volume," Zhang said.

Matta agreed, saying: "The agreement is good for both China and Chile."

For Zhu Hong, deputy director of the department of international trade
and economic affairs under the MOFCOM, the success of the talks depends
on the compromises the countries are willing to make.

The new round of talks come at a time when a previous China-Chile FTA
came into effect on October 1. In 2005, the two countries signed a deal
covering trade in commodities.

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