Chile to upgrade business ties with India

New Delhi, Mar 17 (PTI) Chile, a Latin American country,
Tuesday said it wants to enhance its commercial ties with
India by upgrading the preferential trade pact it has with New
Delhi since 2006.

At a luncheon meeting with apex business chambers here,
visiting Chilean President Michelle Bachelet said her country
was keen on promoting the preferential trade pact with India
to a full-fledged free trade agreement.

"The conditions have arrived to take step forward to
increase our commercial links...I hope this will be a prelude
to sign an FTA with India as soon as possible," Bachelet said
at the Federation of Indian Chambers of Commerce and Industry
(FICCI), Assocham and Confederation of Indian Industry (CII)
meeting.

The two countries have agreed to take steps for doubling
the bilateral trade, which was a mere USD 2.09 billion in
2007-08.

Chile has decided to open a commercial and investment
office here for facilitating commercial ties.

Earlier in the day, the two countries signed four
agreements to strengthen their bilateral ties in the areas of
space, renewable energy, education and mineral resources.