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Chile, Dominican Republic to negotiate FTA | 19 January 2015

Chile, Dominican Republic to negotiate FTA

by Mike Godfrey, Washington

Chile and the Dominican Republic expect to formally start negotiations towards a free trade agreement (FTA) in April this year, Chile’s General Director of International Economic Relations, Andrés Rebolledo said.

A Chilean delegation led by Rebolledo traveled to the Dominican Republic on January 12, 2015, to lay down the foundation for FTA talks.

Rebolledo said that a feasibility study has already been conducted to determine the potential benefits of an FTA between the two countries. The negotiations may lead to the removal of all trade tariffs in the long term.

Chile currently has FTAs in place with more than 60 economies, representing 63.3 percent of the world’s population and 85.3 percent of global gross domestic product (GDP). It was recently announced that the country plans to launch FTA negotiations with the Philippines in March.

The Dominican Republic’s FTA network covers most of Latin America.