Turkey, Chile eye new era in trade relations

State Minister for Foreign Trade Minister Zafer Çaglayan has said Turkey and Chile will embark on a new era, partnering in joint projects in various sectors as the two are set to sign a free trade agreement. Accompanied by a group of 100 Turkish businessmen and six deputies, Çaglayan met with the Chilean ministers of public works, settlement and finance in the capital Santiago. Çaglayan proceeded to Chile after paying an official visit to Brazil over the weekend. He is in the country to sign a free trade agreement. Underlining that such agreements are critical to improving business relations between countries, Çaglayan said that despite the distance between the two countries, Turkey and Chile can improve their trade ties. "Currently the trade volume between Turkey and Chile is around $474 million, and we believe this can be increased to $1 billion within the next two years," he said. "We're planning to cooperate particularly in the fields of services, engineering, consultancy, construction and automotive." He added that the agreement carries special importance as the first free trade agreement to be signed at the Chilean Presidential Palace. Çaglayan said the Chilean side had also declared its willingness to improve relations. Speaking after her meeting with Çaglayan, Chilean Public Works Minister Patricia Poblete called on Turkish entrepreneurs to invest in her country and cooperate with their Chilean counterparts. Underlining that free trade agreements are a must for countries to integrate with global markets, Poblete said she believed the agreement will help boost ties with Turkey.