China and Chile sign trade pact to expand trade in services
China and Chile have signed an agreement to allow investment between their countries in services in such areas as the computing, mining and environmental industries.
By Agencies |
BEIJING: China and Chile have signed an agreement to allow investment between their countries in services in such areas as the computing, mining and environmental industries.
The deal will open up 23 service industries in China's booming economy to investment by Chile, China's Ministry of Commerce said on its Web site late Sunday.
The agreement also gives Chinese companies access to the Chilean market in 37 industries including law, real estate and engineering.
The pact will likely come into operation at the beginning of 2009, the ministry said.
The deal was signed after Chilean President Michelle Bachelet met Chinese President Hu Jintao during a ceremony at a regional economic forum in China's southern province of Hainan.
Hu said he hopes the deal will help diversify trade with the country and open China's service market, the China Daily newspaper reported Monday.
The new agreement expands on an existing free trade pact signed between China and Chile in 2005 _ the first FTA that China signed with a Latin American country. Since then bilateral trade between the two countries has grown 65 percent to US$14.7 billion (euro9.28 billion) last year, the ministry said.
Chile mainly exports copper and wine to China. China exports mostly computers, communications technology, electronic products and automobiles, according to the ministry.
China and Chile also signed six agreements on quarantine processes for agricultural trade.
China has been trying to strengthen its trade ties around the globe as it tries to ensure it has access to the materials and services it needs to supports its long-running economic boom.
China signed a free trade agreement last week with New Zealand, its first such pact with a developed country. It is also pursuing a similar agreement with Australia.
The deal will open up 23 service industries in China's booming economy to investment by Chile, China's Ministry of Commerce said on its Web site late Sunday.
The agreement also gives Chinese companies access to the Chilean market in 37 industries including law, real estate and engineering.
The pact will likely come into operation at the beginning of 2009, the ministry said.
The deal was signed after Chilean President Michelle Bachelet met Chinese President Hu Jintao during a ceremony at a regional economic forum in China's southern province of Hainan.
Hu said he hopes the deal will help diversify trade with the country and open China's service market, the China Daily newspaper reported Monday.
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The new agreement expands on an existing free trade pact signed between China and Chile in 2005 _ the first FTA that China signed with a Latin American country. Since then bilateral trade between the two countries has grown 65 percent to US$14.7 billion (euro9.28 billion) last year, the ministry said.
Chile mainly exports copper and wine to China. China exports mostly computers, communications technology, electronic products and automobiles, according to the ministry.
China and Chile also signed six agreements on quarantine processes for agricultural trade.
China has been trying to strengthen its trade ties around the globe as it tries to ensure it has access to the materials and services it needs to supports its long-running economic boom.
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China signed a free trade agreement last week with New Zealand, its first such pact with a developed country. It is also pursuing a similar agreement with Australia.
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