Turkish delight for Chile
A free trade agreement (FTA) between Chile and Turkey has now come into effect and means 98% of trade between the two countries will have tariffs relieved.
Chile's General Directorate of International Economic Relations (DIRECON) says Chile's fruit growers will now have easier access to the market, which has a population of 73.7 million (Turkish Statistical Institute) and annual GDP of US$1 trillion (World Bank).
"In effect, a great variety of fruit exports can enter with tariff preferences of 50%, which implies for example that apple exporters, who prior to the agreement paid a tariff of 60% can today enter the market with 3,000 tons (metric) paying only 30%; a situation highlighted by the fact Chile supplies around 63% of Turkey's apple purchases from around the world," DIRECON said in a release.
But the FTA still entails sanitary and phytosanitary measures, technical trade barriers, rules of origin, customs procedures, safeguard measures, dispute settlements and legal provisions.
DIRECON said the agreement, which was originally signed in July 2008, created the possibility for a gateway to the Eurasian country's networks in Central Asia and the Middle East.