To meet the interest of Chile becoming a bridge between Asia-Pacific markets including Indonesian and South American, especially Latin America markets near to the Atlantic ocean, Indonesia and Chile are discussing the possibility of free trade agreements of both countries.
A free trade pact between Peru and Chile will take effect this week, a sign that two of the most open economies in South America are deepening their commitment to trade to help weather the global economic crisis.
The Australia-Chile Free Trade Agreement is set to come into force on 6 March, 2009, allowing a host of Australian exporters a greater opportunity to enter a growing market.
President Bachelet reportedly asked her Korean counterpart to come to the negotiating table next March in Singapore, where countries including New Zealand, Singapore, Chile, Brunei, the United States, India, Peru and Australia are expected to start negotiations on a multilateral FTA. According to Korean Presidential spokesman Lee Dong-kwan, President Lee gave a positive response to the proposal.
The free trade agreement begun by New Zealand, Singapore, Chile and Brunei - known as the P4 - two years ago is set to expand even further with two more countries , Australia and Peru, as well as the United States wanting to join.
The government of Chile is open to forging some form of free-trade pact with the Philippines, seeing that Asian countries, most especially those in the Asean, would be among the major global economic growth drivers in the next few years.