MercoPress. South Atlantic News Agency

Chile's import tariff averages 2,4%

The tariff reductions agreed by Chile in the several trade accords reached with United States, European Union among others, is forcing the average effective import tariff to continue decreasing, having reached 2,4% last March

According to the Chilean Chamber of Commerce this is 0,3% less than last February and seven points less than March 2003.

EU import tariffs actually average 0,9% and according to the agreement should be contracting to 0,5% by the end of 2004.

Regarding the US trade agreement which covers 85% of all products, the average tariff stands at 0,8% and should be decreasing to 0,2% by 2006.

Import tariffs with South Korea following the recent April agreement are programmed to drop to 2%.

The Chilean Chamber of Commerce reports that during March 83% of all imports came from countries with which Chile has trade agreements. This percentage should increase to 86%, following the signing of the accord with South Korea.