Overview of ICPTA Certificate

India-Chile Preferential Trade Agreement or ICPTA is to promote economic co-operation between these two countries was signed on the 20th of January 2005. This framework envisaged a Preferential Trade Agreement (PTA) between both countries as its first step. A follow-up to the framework agreement, a PTA was finalised in November 2005, which has a list of products on which both countries have agreed to give fixed tariff preferences to each other under two annexes. It also has three annexes related to Rules of Origin, Preferential Safeguard Measures and Dispute Settlement Procedures. 

The Cabinet approved this Agreement of India on the 23rd of February 2006, and the PTA was signed on the 8th of March 2006. The Parliament of Chile approved the same in April 2007, and the President of Chile signed it on the 16th of August 2007 there and then on the 11th of September 2007 in India. Implementation of this India -Chile Preferential Trade Agreement (ICPTA) was notified to WTO on the 13th of January, 2009. In 2016 they expanded the scope of this ICPTA and thus included more products under it. 

The objective of ICPTA are as follows:

• To promote the harmonious development of both countries economic relations through expansion of trade.
• To provide fair conditions of competition for trade between the two countries. 
• To pay due in regard to principles of reciprocity in implementation of the present Agreement.
• To contribute in this way by removing barriers to trade and harmonising development along with the expansion of world trade. 

Products covered under ICPTA Certificate

There has been an expansion in India-Chile PTA recently, and it has offered more tariff lines. The products on which India has offered tariff concessions are as follows:

The products on which Chile has offered tariff concessions are as follows:

Benefits of the ICPTA Certificate

Following are the primary benefits of having an ICPTA Certificate:

• Diversified exports basket with Chile
• A wide array of tariff lines offered by Chile 
• Reduction of tariff barriers in Chile
• Promotion of fair trade between both countries
• Equal benefits to both the contracting countries

Documents Required for ICPTA Certificate 

Following is the list of all the documents required for the ICPTA Certificate:

• Import-Export Code (IEC) 
• Registration Certificate of Company or organisation
• Details of each director, partner or proprietor
• Exporter details
• Commercial Invoice 
• Bill with details of quantity or Origin of inputs or consumables used in export products
• Declaration from the manufacturer on the letterhead 
• Product details 
• Details of Raw materials 
• Description of goods
• Purchase order from the importer
• Affidavit 
• DSC 
• Cost statements

Procedure for ICPTA Certificate

The overall procedure to obtain the ICPTA Certificate is as follows:

• Application:

The applicant files an application to the appropriate authority with DSC and an updated IEC.

• Documents:

The applicant mandatorily submits all relevant information and required documents along with the application.

• Payment:

After submission of the application form, the applicant makes payment of the requisite fees to the authority.  

• Issuance of License:

Once all the above-mentioned steps are fulfilled, the appropriate authority issues ICPTA Certificate in the name of the applicant.