THE Union
Minister of Commerce, Mr Anand Sharma yesterday met Mr. Alfredo Moreno, Minister
of Foreign Affairs, Chile, where, they expressed satisfaction at the very
strong political, diplomatic and economic ties between the two countries.
They recognised the role of the various MoUs and the Preferential Trade Agreement
(PTA) in the growing economic ties between the two countries. They noted
that the two countries had decided to expand the PTA in light of the narrow
trade basket dominated by a few items, especially in Chile's exports. They
noted with satisfaction the advanced state of the PTA expansion negotiations
at the end of the 5th Round of negotiations concluded in New Delhi on 3rd
and 4th August 2012, and the imminent finalisation of the expanded PTA for
final approvals on both sides.
Both the Ministers recognised the advantages and importance of a more comprehensive
agreement in the nature of a Comprehensive Economic Partnership Agreement (CEPA)
between the two countries, and agreed to process necessary approvals mandated
by their respective laws in an expedited time frame, to proceed further in
the matter. Mr Sharma also mentioned the subject of Double Taxation Avoidance
Agreement (DTAA), which he said should be signed between the two countries.
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