India has stepped up efforts to deepen bilateral economic ties with Chile, with both countries pushing ahead with negotiations for a Comprehensive Economic Partnership Agreement (CEPA) aimed at expanding trade and investment opportunities, according to the Ministry of Commerce & Industry. Commerce Secretary Rajesh Agrawal met Paula Estevez Weinstein, Vice-Minister of International Economic Relations of the Republic of Chile, in Santiago on August 26 to advance discussions on the proposed trade pact. The Indian delegation 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 is now determined to conclude its trade agreement negotiations with Chile within this year, as reported by The Economic Times, representing an accelerated timeline from previous targets. The latest developments show New Delhi targeting a conclusion of talks within the year, with both sides agreeing to build on existing momentum in the relationship to ensure the CEPA delivers concrete outcomes for businesses in both countries.
The proposed comprehensive economic partnership agreement (CEPA) is expected to open new avenues for greater trade and investment between the two countries. During the bilateral discussions, Agrawal pointed to extensive opportunities for collaboration across specific industrial segments, including healthcare, pharmaceuticals, energy, minerals, agriculture, machinery, and engineering, according to ANI. The secretary highlighted immense potential for enhanced economic cooperation across multiple sectors, with both delegations noting the necessity of expanding existing bilateral relations through the trade framework. Both countries aspire to transform their shared ambitions into tangible trade prospects, with the objective of establishing fair and beneficial outcomes for their respective businesses, as stated by The Economic Times. The two sides also agreed on the need to build on the existing momentum in the relationship, ensuring that the CEPA delivers concrete outcomes for businesses in the two countries.
Both sides emphasized that the shared identity of India and Chile as members of the Global South, along with their common strategic vision, provides a strong foundation for deepening bilateral economic cooperation and advancing shared prosperity, as stated by the Ministry of Commerce & Industry. The focus remained on generating practical commercial outcomes for businesses and citizens across both nations, with both delegations agreeing that the proposed pact must effectively serve commercial interests across key sectors. The Indian delegation reiterated its commitment to delivering a balanced and mutually beneficial framework that provides equitable and commercially meaningful outcomes for businesses on both sides. The shared position within the Global South and common strategic outlook serve as the foundation for building a comprehensive framework for bilateral trade.
The comprehensive agreement is designed to foster cooperation in technology, talent and resilient supply chains, according to the commerce ministry statement. The finalised agreement is expected to add momentum to existing bilateral trade flows and create stronger foundations for long-term economic cooperation between India and Chile. Both sides emphasized the importance of building on the strong and growing India-Chile relationship and ensuring that the CEPA translates shared objectives and aspirations into concrete and commercially meaningful opportunities for businesses on both sides. The ministry noted that discussions centred on accelerating the process and building a comprehensive framework for bilateral trade, with the goal of delivering a balanced framework offering equitable, commercially meaningful outcomes for businesses on both sides.
