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Under the expanded EPZ, Chile offered India concessions on 1,798 customs positions (products) with a preferential margin (MoP) of 30 to 100 per cent. This means that, after the implementation of the expanded EPZ, Chile will apply lower tariffs on 1,798 products imported from India than it imposes on its other trading partners in normal trade. Tariffs are reduced by 30-100% (preferential margin) depending on the post office. New Delhi`s increased engagement with Chile is part of its broader approach to strengthening its engagement with Latin America to extend countries` trade interests beyond traditional EU and US markets. On 21 April 2016, the Indian government approved the extension of the one-sided agreement (PSA) with Chile. Chile and India signed an agreement on 6 September 2016 to extend the partial agreement. India`s bilateral trade with Chile has declined slightly, from $2.85 billion in 2017-18 to $2.22 billion in 2018-18. “Once the expanded EPZ is in place, the two countries will also consider a possible comprehensive economic partnership agreement, including goods, services and investments,” the official added. Bilateral trade between India and Chile amounts to about $2.5 billion per year. In 2016, India and Chile extended the scope of the agreement to other products. In an EPA, two trading partners substantially reduce or eliminate import duties on certain products traded between them. “Discussions on the second enlargement of the agreement are being finalized.
About 400 other goods would be covered by the pact,” the official said. After four rounds of negotiations, Chile and India concluded a preferential trade agreement on 23 November 2005. The Chile-India preferential trade agreement was signed on 08 March 2006. In January 2010, the two countries agreed to deepen the PTA with a view to a much broader agreement. A second meeting on deepening the agreement was held in New Delhi on 5 and 6 August 2010. The third meeting took place on 5 July 2011 in Santiago. The fourth meeting took place in New Delhi on 2 and 3 February 2012. Negotiations on deepening the EPZ concluded in New Delhi on 20 October 2014. In cases where the information or documents requested from the competent authorities of the exporting party are not provided within the prescribed time frame or where the response does not contain sufficient information or documentation to determine the origin, authenticity or accuracy of the certificate of origin submitted to the investigation or where the competent authorities of the importing party consider that the products submitted to the investigation do not meet the original requirements. , they may, however, consider that the products under investigation do not meet the original requirements. and may, therefore, refuse preferential tariff treatment for the products covered in the Article 20 Certificate of Origin and, therefore, close this investigation.