New Delhi, May 9 (HS): India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) on 08 May 2025, marking a key milestone in their bilateral trade relations. The ToR was signed by Juan Angulo, Ambassador of Chile in India, and Vimal Anand, Joint Secretary, Department of Commerce, Government of India, who is also the Chief Negotiator for India-Chile CEPA. Both nations expressed their commitment to strengthening bilateral ties and look forward to the first round of discussions scheduled for 26-30 May 2025 in New Delhi.

The CEPA aims to expand upon the existing Preferential Trade Agreement (PTA) and include diverse sectors such as digital services, investment promotion, MSMEs, and critical minerals, thus enhancing economic integration. India and Chile, known as strategic partners, have cultivated warm relations over the years with high-level exchanges. A Framework Agreement on Economic Cooperation was signed in January 2005, and the PTA was introduced in March 2006, which has since evolved through subsequent agreements, including an expanded PTA effective from May 2017.

Both nations expressed intent to deepen their economic ties to fully leverage their trade potential, enhance employment, promote investment, and facilitate exports, following recommendations from the Joint Study Group. This vision was reiterated during the recent State visit of Chilean President Gabriel Boric Font to India from 1-5 April 2025, where both leaders recognized trade as a fundamental aspect of their relationship and welcomed the launch of CEPA negotiations aimed at achieving balanced and mutually beneficial economic integration.

Hindusthan Samachar / Jun Sarkar