Hong Kong signs free trade pact with Chile

Hong Kong and Chile last Sept 7 signed a free trade agreement that took only a year to complete.

Financial Secretary John Tsang and Chilean President Sebastian Pinera witnessed the signing ceremony on the eve of the Asia Pacific Economic Cooperation (APEC) summit in the Far Eastern Russian city of Vladivostok.

Hong Kong’s total exports to Chile, over half of which consisted of telecommunications equipment and parts, came to US$262 million in the first half of 2012. Chile’s total exports to Hong Kong amounted to US$359 million in the same period and were made up mostly of fruit and nuts, meat, seafood and wine.

Tsang said the agreement will further strengthen Hong Kong’s partnership with Chile and serve as a platform to turn their bilateral economic relations to a new level.