China and Chile have agreed to establish a working group by August that would consider how to upgrade the two nations' free trade agreement, China's Ministry of Commerce said.
The China-Chile FTA was signed in November 2005 and came into effect in October 2006. That agreement mainly covered trade in goods, but supplementary agreements on investment and trade in services were signed and implemented later.
The China-Chile FTA was the first FTA signed between China and a Latin American country, the Ministry said.
The creation of the working group was agreed during Chinese Premier Li Keqiang's Latin America tour, which included visits to Peru, Colombia, Brazil, and Chile earlier this month. During the Colombia leg of the tour, Li Keqiang told reporters that he and Colombian President Juan Manuel Santos agreed that the two countries would undertake a feasibility study on an FTA.
This has been excerpted from the 29 May 2015 edition of Tax-News and is available in its entirety at: http://www.tax-news.com/news/Chile_China_To_Upgrade_FTA____68216.html