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					Briefs                                                                                                    The Council
Chile
   Chile and India are on the verge of finalizing a free trade agreement (FTA) that would signif-
                                                                                                         on Hemispheric
icantly reduce trade barriers between the two nations. Chilean Ambassador to India, Alfonso
Silva Navarro, expressed his country’s desire to complete an FTA with New Delhi during a                     Affairs
conference on May 12, organized by the Bengal National Chamber of Commerce & Industry                         1250 Connecticut Ave. NW
(BNCCI). He explained that, “there had been some delay due to the elections [in Chile], but
we hope to hold a meeting by August to enhance the list and reduce the tariffs.” The South                 Suite 1C Washington, DC 20036
American nation currently supplies India with copper ore and concentrates, iodine, forestry
products, wine, and almonds. This most recent exchange was born out of a March 2006 nego-                                Volume 29
tiation in which Chile and India entered into a preferential trade agreement (PTA), bolstering
the commercial links between the two countries. In 2008, bilateral trade reached an unprec-
edented $2.3 billion, compared to a mere $300 million in 2004.                                                               Issue 9
   In order to cope with the jarring repercussions of the global financial crisis, Chilean President
Michelle Bachelet has launched a prodigious campaign to diversify the country’s traditional                             May 21, 2009
trading partners. Chile currently holds FTAs with the U.S., Canada, South Korea, Japan, Aus-
tralia, Central America, Mexico, and the EU. Santiago has increasingly viewed Asian nations                  Washington Report on the Hemisphere
as worthy trade partners because of the size of their markets. In 2005, 36 percent of Chilean                       © 2009 Published biweekly
exports went to Asia. With global trade forecasted to contract by 3 percent in 2009, Chile                  (23 issues per year including index) by the
would be wise to secure another major global partner for its goods in the rapidly developing                      Council on Hemispheric Affairs
Asian market.
                                                        Research Associate David Rosenblum Felson
Honduras                                                                                                               phone: (202) 223-4975
    Honduran President, Manuel Zelaya Rosales, announced on May 11 that his government                                   fax: (202) 223-4979
 will take direct charge of the conversion of the Soto Cano Air Force Base (commonly known                             e-mail: coha@coha.org
 as the Palmerola Air Base when it was under joint U.S. and Honduran control), in response                                  issn: 1275-559
 to the lack of interest in the private sector to transform the facility into a commercial airport.    Chairperson: Judith Chiara
 The government announced that it would allocate close to 200 million lempiras (about US
 $10 million) to the Honduran air force to oversee the construction of the facility. The allotted      Editor-in-Chief: Larry Birns
 funds, permitted under Honduran law in the case of a state of emergency, will substitute for
 a lack of private interest in the project. Due to the instability of the Honduran socio-political
 arena, many in private sector believe that the government may decide to confiscate it. Amílcar        Managing Editor: Michael Ramirez
 Bulnes, president of the Honduran Council of Private Enterprise, however, is calling for the
 government to instead use the funds on much needed social programs.                                   Assistant Managing Editor: Graeme Wood
    The Palmerola base began operations in 1981, and was used as a launching point for U.S.
 b
				
DOCUMENT INFO
Description: In order to cope with the jarring repercussions of the global financial crisis, Chilean President Michelle Bachelet has launched a prodigious campaign to diversify the country's traditional trading partners. Research Associate David Rosenblum Fehon HONDURAS Honduran President, Manuel Zelaya Rosales, announced on May 11 that his government will take direct charge of the conversion of the Soto Cano Air Force Base (commonly known as the Palmerola Air Base when it was under joint U.S. and Honduran control), in response to the lack of interest in the private sector to transform the facility into a commercial airport.
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