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India and Chile had signed an agreement on expansion of India-Chile Preferential Trade Agreement (PTA) on September 6, 2016 which be be implemented from May 16, 2017, facilitating exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96 percent of bilateral trade.

Chile is the fourth largest trading partner of India in LAC region after Brazil, Venezuela and Argentina.

Related Keywords: agreed for expansion of bilateral preferential trade agreement, among Latin American, both sides offering to lower or eliminate tariffs, Caribbean Nations, important landmark in India-Chile relations, India and Chile, India third largest trading partner, margin of preference, number of items traded with each other, Under expanded PTA

India and Chile has agreed for expansion of their bilateral preferential trade agreement (PTA). The trade pact was signed in a meeting between Commerce Secretary Rita Teaotia and the South American country's Ambassador to India Andres Barbe Gonzalez on Tuesday, an official statement said.