Chile's exports to South Korea have increased 296%, since the execution of the agreement between both parties, which is the first agreement signed by Latin American and Asian countries and an agreement that the authorities are willing to continue to strengthen. For this reason, the delegation of South Korea visited Chile last week to discuss the terms and scope of the free trade agreement, which will strive to reduce tariff barriers that still exist on 458 products.

As revealed by the director of the bilateral economic affairs of the Economic Relationship Division, the main advantage of this process is that the products (458 kinds) can obtain tariff concessions, and the excluded products (21 kinds) can obtain tariff concessions in this multiple rounds negotiation. The target products of Chile include beef and poultry, dairy products, honey, garlic, citrus fruits (especially oranges), plums, strawberries and grape juice.

Another goal of the negotiation is to strengthen cooperation between the two countries in order to attract more investment in different strategic sectors such as water resources management, energy, education and food. The official stressed that South Korea has not yet explained what its interests are.