The Chilean Senate unanimously approved the country's free trade accord with China on late Wednesday, following ratification by the lower house of parliament last month.
All 31 senators voted in favor of the treaty, which was signed by the leaders of the two countries in South Korea last year.
The accord, which takes effect in 2007, eliminates duties on 92 percent of the products that Chile currently sells to China, including copper, minerals and agricultural produce.
Of China's exports, 50 percent will have immediate tariff-free access to Chile, including machinery, televisions, printers, computers and automobiles, 21 percent will enjoy the preference in five years, and 26 percent in 10 years.
In addition, 3 percent will be excluded from the benefit, including textiles, light engineering products, wheat flour and sugar. Enditem
All 31 senators voted in favor of the treaty, which was signed by the leaders of the two countries in South Korea last year.
The accord, which takes effect in 2007, eliminates duties on 92 percent of the products that Chile currently sells to China, including copper, minerals and agricultural produce.
Of China's exports, 50 percent will have immediate tariff-free access to Chile, including machinery, televisions, printers, computers and automobiles, 21 percent will enjoy the preference in five years, and 26 percent in 10 years.
In addition, 3 percent will be excluded from the benefit, including textiles, light engineering products, wheat flour and sugar. Enditem
