Malaysia, Chile Sign Trade Agreement to Scrap Tariffs in 2011
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Malaysia signed a free trade agreement with Chile that will see the two countries progressively reduce or eliminate tariffs on their respective agricultural and industrial products.
The agreement, to be implemented during the first half of 2011, will benefit Malaysian exporters because Chile will eliminate import duties initially for 6,960 products, according to a media release from the Southeast Asian nation’s Ministry of International Trade and Industry. A further 668 tariff eliminations will follow within five years, the statement said.