Increase India's share of bilateral trade: Heine

Kolkata, July 15: Emphasising the need for increasing India's share of bilateral trade with Chile, Republic of Chile Ambassador Jorge Heine today urged the industrialists here to visit his country to showcase the investment opportunities in West Bengal.

In last three year India's exports to Chile stood at mere US million, he said adding that there was a huge gap in India's export to Chile, Mr Heine pointed out.

Speaking at a programme organised by Merchant Chamber of Commerce, Mr Heine said, "I will meet West Bengal Chief Minister tomorrow and discuss about developing bilateral trade with Bengal." Bilateral trade between India and Chile has grown over the last few years but there is yet huge opportunity. Chile's export to India has grown from US $ 130 million in 2003 to US $ 1.7 billion in 2006.

"We expect this to touch USKolkata, July 15: Emphasising the need for increasing India's share of bilateral trade with Chile, Republic of Chile Ambassador Jorge Heine today urged the industrialists here to visit his country to showcase the investment opportunities in West Bengal.

In last three year India's exports to Chile stood at mere US$80 million, he said adding that there was a huge gap in India's export to Chile, Mr Heine pointed out.

Speaking at a programme organised by Merchant Chamber of Commerce, Mr Heine said, "I will meet West Bengal Chief Minister tomorrow and discuss about developing bilateral trade with Bengal." Bilateral trade between India and Chile has grown over the last few years but there is yet huge opportunity. Chile's export to India has grown from US $ 130 million in 2003 to US $ 1.7 billion in 2006.

"We expect this to touch US$2 billion in 2007,'' he said. India is Chile's 20th export market compared to China and Japan which are No.

1 and 3 respectively.

"There is also huge opportunity of exporting copper, fresh fruits, wine and pepper, apart from various other products, from Chile to India. Last year out of Chile's total export to India, US$ 1.5 million was copper.

''India is very cautious about signing Free Trade Agreements(FTA). The country should increase enter into more FTAs to enhance the bilateral trade with Chile,'' he mentioned.

Chile has recently signed a Preferential Trade Agreement(PTA) with India recently on 300 products in the presence of Union Commerce Minister Kamal Nath. The PTA has been ratified by the Chilian Congress and would be effective in a couple of weeks.

UNI billion in 2007,'' he said. India is Chile's 20th export market compared to China and Japan which are No.

1 and 3 respectively.

"There is also huge opportunity of exporting copper, fresh fruits, wine and pepper, apart from various other products, from Chile to India. Last year out of Chile's total export to India, US$ 1.5 million was copper.

''India is very cautious about signing Free Trade Agreements(FTA). The country should increase enter into more FTAs to enhance the bilateral trade with Chile,'' he mentioned.

Chile has recently signed a Preferential Trade Agreement(PTA) with India recently on 300 products in the presence of Union Commerce Minister Kamal Nath. The PTA has been ratified by the Chilian Congress and would be effective in a couple of weeks.

UNI