Within the framework of the update of the Chile-Korea FTA: Fruit exporters seek to improve entry conditions

Published 2024년 4월 15일

Tridge summary

Chile and South Korea are working to expand their 2003 Free Trade Agreement to enhance export conditions for Chilean fresh fruits, including apples, table grapes, and oranges, aiming to overcome high tariffs that currently restrict export volumes. This move seeks to capitalize on the strong foundation of Chile's fruit reputation in South Korea, despite a recent dip in fruit consumption due to increased local production costs and natural disasters. Additionally, insights into South Korean consumer behavior reveal a high frequency of fresh fruit purchases, predominantly through offline retail channels, with a significant emphasis on the visual appearance of fruits. This negotiation and consumer preference analysis underscore the potential for growth in the market for imported fruits in South Korea, presenting an opportunity for Chile to expand its fruit exports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chile and South Korea are negotiating the expansion of the Free Trade Agreement signed between both nations in 2003, in force since April 2004. These negotiations could conclude this year and fruit exporters hope that they will do so, improving current conditions of income for exports of some fresh fruits such as apples, table grapes, and oranges. This trade agreement is special for both countries, as it was the first FTA signed by Korea in its entire history, and the first signed by an Asian country and a Latin American country. Currently, South Korea is our country's fifth trading partner and the third in Asia, after China and Japan. When it comes to fresh Chilean fruits, Korea is the third destination within Asia, after China and Taiwan. “Our shipments to the Korean market reached more than 33 thousand tons last season, with a decrease of 8%, due among other challenges to the high tariffs for some of our fruits. Today, we export to Korea: table grapes (51% of the total), ...

Source: Portaldelcampo