New Delhi, Aug 30 (IANS) India and Chile have stepped up efforts to deepen bilateral economic ties, with both countries pushing ahead with negotiations for a Comprehensive Economic Partnership Agreement (CEPA) aimed at expanding trade and investment opportunities, the Ministry of Commerce & Industry said on Sunday.
Commerce Secretary Rajesh Agrawal met Chile’s Vice-Minister of International Economic Relations Paula Estevez Weinstein in Santiago on August 26 to advance discussions on the proposed trade pact.
During the meeting, India reiterated its commitment to an open, sustained and balanced approach to the negotiations, with the objective of creating meaningful and commercially viable opportunities for businesses and people in both countries. India and Chile’s shared position as members of the Global South and their common strategic outlook were also highlighted as a strong foundation for closer economic cooperation.
Both sides stressed the need to build on the growing momentum in India-Chile relations and ensure that the CEPA delivers concrete outcomes for businesses in the two countries.
The agreement is expected to provide a framework for greater market access while strengthening cooperation across trade and investment.
Agrawal highlighted significant potential for expanding economic engagement in sectors such as healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
A successful conclusion of the negotiations, he said, could provide further momentum to the expanding bilateral trade and economic partnership.
India is targeting the completion of CEPA negotiations within 2026 and is seeking a balanced and mutually beneficial agreement that delivers equitable and commercially meaningful outcomes for businesses on both sides.
The proposed pact is also expected to create new opportunities for trade and investment while encouraging cooperation in technology, talent and resilient supply chains.
–IANS
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