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`Indo-Chile trade likely to treble this year'

Our Bureau

Visakhapatnam , Dec. 21

There has been a tremendous surge in Indo-Chilean trade in recent years and this is set to treble to $1.5 billion, going by the current trend, according to Dr Jorge Heine, the Ambassador of Chile in India.

Dr Heine, on a two-day visit to Visakhapatnam, said at a press meet on Wednesday that the two countries had signed a preferential trade agreement (PTA) earlier this year in March. He said the agreement would have to be approved by the Chilean Senate before it can come into effect.

He said the agreement would cover 300 Indian products and 180 Chilean products. He said Chile mainly exported copper to India besides wine, wood and newsprint. He said India exported as many as 1,200 different products to Chile. "Indian software firms such as TCS are making forays into the Chilean market and TCS has bagged a major contract relating to the transport system in the Chilean Capital," he said.

He said though the two countries are situated far apart there was still tremendous scope for boosting trade volumes.

"The Indian economy is growing at 8 per cent and Chile is the most dynamic economy in Latin America and therefore there is a great scope for cooperation," he said.

He said the Chilean Minister of Trade and Industry would attend the partnership summit of the Confederation of Indian Industry in Bangalore in January.

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