US and Chile continue trade talks

Manufacturing News, Source : TheManufacturer.com
Published : 13 Dec 2002 22:07

The United States has reached an agreement on the text of a long-awaited bilateral trade agreement with Chile, the National Association of Manufacturers reports.

“This is a big deal for America’s manufacturers and workers,” said Frank Vargo, VP for International Economic Affairs of the National Association of Manufacturers.

With approximately 90% of US exports to Chile being manufactured goods, Vargo says the absence of a trade agreement with Chile has been expensive for the US economy in general and for manufacturers in particular. Once in effect, the agreement will allow for a restored sales base in Chile and an increase in exports.

“It is important both in its own right as well as an incentive and a precedent for moving forward with a broader Free Trade Area of the Americas,” said Vargo.

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