Date:25/02/2006 URL: http://www.thehindubusinessline.com/2006/02/25/stories/2006022503781300.htm

Back Cabinet okays pact with Chile

Our Bureau

New Delhi, Feb. 24

The Cabinet has approved signing of a Preferential Trade Agreement between (PTA) India and Chile to facilitate the ongoing endeavour to strengthen trade and economic relations between the two countries, the Minister for Information and Broadcasting, Mr P.R. Dasmunshi, told presspersons after the meeting.

The PTA would provide for exchange of tariff concessions on a limited scale in terms of coverage of more number of products and percentage of tariff reductions.

The move will be the first step towards negotiating ultimately a Free Trade Agreement. The move is aimed at boosting India's trade with Chile in particular and Latin America in general, he said.