The Fta With Chile Fta - 1469 Words

The China its FTA with Chile was not only the first bilateral FTA for China but also its first with a Latin American country. When the agreement was signed in 2005, the China – Chile FTA only included tariff cuts and provisions on investment promotion and facilitation. After entering into force in 2006, there have also been negotiations on trade in services and investments (2010). The objectives of this Agreement, as elaborated more specifically through its principles and rules, including national treatment, most-favored-nation (MFN) treatment, and transparency, are to (1) Encourage expansion and diversification of trade between the Parties (2) Eliminate barriers to trade in, and facilitate the cross-border movement of, goods between the†¦show more content†¦Prior to signing an FTA with China, Chile already had an extensive network of FTAs, by seeking an FTA with Chile; China was able to gain access within Chile’s network in order to avoid trade discrimination in the Americas. Chile largest imports from China are machinery and textiles; while China’s largest imports from Chile are base metals and minerals. 1.2 Suriname Suriname is a country in northern South America. Apart from being the smallest country in South America, rich in bio diversity and natural resources it is also one of the four non Spanish speaking countries in the continent along with Brazil, Guyana and French – Guiana. Furthermore, Suriname is an upper middle class country with a strong performing economy. The economy is reliant on a few sectors for economic growth and development, with the mining sector being the largest. After 15 years of high volatility, Suriname has managed to emerge over the last decade as one of the Caribbean best performing economies. In the past 10 years (2002 – 2012) Suriname recorded an annual growth of 4.4 percent, allowing the per capita income to move up 12 percent over the past decade, bringing Suriname ahead of the average for both