CHILE: Wine exporters look to South Korea
After the treaty comes into force, Chilean wine exports will see the amount of duty they are subject to decrease to zero over the next five years. At the moment they pay duty at around 15%.
"This is an important incentive for our exports because our main competitor, Australia, does not have a treaty of this type in place," Rodrigo Alvarado, the president of the exporters' association, Chilevid, said.
Chile exported wine worth US$3.5m to South Korea in 2003, more than double the previous year's total. But Chilean exporters hope to boost this total significantly.
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