logo logo

Japan, Chile to set up joint FTA study board

Vietnam News Agency, Hanoi

Japan, Chile to set up joint FTA study board

14 November 2004

Tokyo (VNA) - Japan and Chile are expected to set up a joint study board aimed at concluding a free trade agreement, according to Kyodo news agency.

The accord to this effect will be reached at the talks between Japanese Prime Minister Junichiro Koizumi and Chilean President Ricardo Lagos in Santiago on Nov. 21 on the sidelines of the Asia-Pacific Economic Cooperation forum meeting.

The board will consist of government officials, business leaders and academics from the two countries.

The value of Japan’s exports to Chile reached about 600 USD million in 2003, with automobiles, motorcycles and machines as the main export items. Japanese products are subject to higher tariffs in Chile than those imposed by countries with which Japan has FTAs.

Meanwhile, Japan imported 2.6 billion USD worth of Chilean products such as copper, silver and marine and forestry products.