Chile-Hong Kong FTA Enters Into Force
02/12/2014 72
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A free trade agreement between Chile and Hong Kong entered into force on December 1, 2014, according to an announcement in Chile's Official Journal. The agreement, originally signed on September 7, 2012, provides both sides with preferential access to their respective markets.
On trade in goods, for goods originating from Hong Kong, Chile will abolish import tariffs on around 88 percent of its tariff lines, and will phase out the tariffs on an additional 10 percent of tariff lines over three years. Hong Kong, on the other hand, has committed to offer tariff-free access for all products originating from Chile from the date that the agreement entered into force.
The Agreement also contains provisions to promote competition, open access to government projects, enhance co-operation in customs procedures, and protect the environment.
Source: Tax News
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