Free trade agreement with Chile to take effect enxt month

A free trade agreement between Turkey and Chile will take effect on March 1, said Foreign Trade Minister Zafer Caglayan yesterday. The government hopes to boost bilateral trade to $1 billion in the next two years under the agreement, he said in a statement. The free trade agreement will contribute to competitive power and foreign investments, he added. Turkey opened a commercial consultancy office in Chile in line with a Cabinet decree last November. Caglayan called this an important step for improving economic ties between the two countries.