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:
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:
Products |
Tariff lines |
Meat and fish products |
84 tariff lines |
Rock salt |
1 tariff line |
Iodine |
1 tariff line |
Copper ore and concentrates |
1 tariff line |
Chemicals |
13 tariff lines |
Leather products |
7 tariff lines |
Newsprint and paper |
6 tariff lines |
Wood and plywood articles |
42 tariff lines |
Industrial products |
12 tariff lines |
Shorn, wool and noils of wool |
3 tariff lines |
others |
7 tariff lines |
The products on which Chile has offered tariff concessions are as follows:
Products |
Tariff lines |
agriculture products |
7 tariff lines |
chemicals and pharmaceuticals |
53 tariff lines |
dyes and resins |
7 tariff lines |
plastic, rubber and miscellaneous chemicals |
14 tariff lines |
leather products |
12 tariff lines |
textiles and clothing |
106 tariff lines |
footwear |
10 tariff lines |
industrial products |
82 tariff lines |
some other products |
5 tariff lines |
Benefits of the ICPTA Certificate
Following are the primary benefits of having an ICPTA Certificate:
Documents Required for ICPTA Certificate
Following is the list of all the documents required for the ICPTA Certificate:
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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.
Frequently Asked Questions
Free Trade Agreement is a preferential arrangement under which member countries reduce tariffs or trade barriers among themselves and, at the same time, maintain their tariff rates for trade with other non-member countries.
The aim of this Agreement is to strengthen relations between both countries, promote the expansion of trade and provide the conditions and mechanisms to negotiate a Free Trade Agreement in accordance with the rules of WTO and the framework of this Agreement.
Preferential treatment under ICPTA means any concession or privilege granted under this Agreement by a party through progressive reduction or elimination of tariffs on the movement of goods.
In 2016, both India and Chile expanded the scope of this Agreement by including more products. And now, 2000 products are covered under this Agreement.
The primary products that are exported from India to Chile are transport, pharmaceuticals, yarn, tyres and tubes, metals manufacture, apparel articles, organic, inorganic and agro-chemicals, textiles, garments, plastic products/goods, leather products, engineering goods, imitation jewellery, products/goods related to sports and handicraft.
Major products imported from Chile to India include copper ore and concentrates, iodine, copper anodes and cathodes, molybdenum ores and concentrates, lithium carbonates, metal scrap, chemicals, pulp and wastewater, fruits and nuts except for cashews, fertilisers and machinery.