Last night, the forgetful one learned from China's Ministry of Commerce that Foreign Country and Chile have signed a China-Chile Free Trade Agreement on service trade. According to this agreement, 23 sectors and combined sectors such as real estate, mining, and environment in Foreign Country, and 37 sectors and combined sectors such as legal services, real estate, and mining in Chile will further open up to each other based on their respective WTO commitments. Both parties agreed to implement the agreement starting from January 1, 2009 after completing domestic approval procedures.
Analysts believe that although Chile is not a mineral-rich country, its agricultural products are still at a primary stage. The signing of the China-Chile service trade agreement will help both countries further open up their service markets to each other, promote complementary advantages, and enhance international competitiveness. It will also help improve the investment environment, create business opportunities, and reduce transaction costs. It is reported that China Minmetals Corporation has cooperation with Chile's state-owned copper company.
In November 2005, China and Chile signed the "China-Chile Free Trade Agreement," which made arrangements for bilateral goods trade liberalization. Data shows that in 2007, the bilateral trade volume between China and Chile was 14.7 billion US dollars, an increase of 65% over the previous year.
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