On July 14th, Chile signed a new trade agreement with Turkey that will eliminate customs duties on 98

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percent of the goods they exchange.  Chile’s Foreign Ministry says bilateral trade reached $437 million in 2008, with a $103 million surplus for Chile.

According to the AP,

The South American nation ships goods including copper, seafood and wine to Turkey, and imports home appliances and auto products.Chile has now signed free trade accords with 21 countries including the United States, China, South Korea, Mexico and several European nations.

To read the complete article, visit Chile, Turkey sign trade agreement at CNBC.com.

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Chilean President Michelle Bachelet said Friday she hoped Vietname and Chile will soon sign a free trade

Flag of Chile

agreement (FTA) as the two countries have come into concurrence on many important issues during FTA negotiations.

Meeting Vietnamese Vice President Nguyen Thi Doan in Santiago, the Chilean president expressed her pleasure at the development of the two countries’ relations in all aspects.

Free Trade Agreements are not just popular among the G8 countries – for smaller players, benefits like new export markets, lower cost of business, and new sourcing options can help develop growing economies. I think this is an especially interesting FTA as Chile and Vietnam are such different countries – I believe they will complement each other well.