According to media sources, India and Chile have agreed to hold discussions toward a Comprehensive Economic Partnership Agreement (CEPA) to expand trade and investment. MEA Secretary (East) Periasamy Kumaran made these remarks while briefing the media on the visit of Chilean President Gabriel Boric Font to India in New Delhi this afternoon. He noted that the two countries currently have a partial trade agreement, with the aim of expanding it into a comprehensive Foreign Trade Agreement (FTA). Mr. Kumaran said that, to further promote trade relations and people-to-people interactions, President Boric announced Chile’s decision to grant a Multiple Entry Permit for Indian businesspersons, which will streamline the visa process. He added that Prime Minister Narendra Modi welcomed and valued this measure.
Mr Kumaran mentioned that during their meeting, the two leaders comprehensively reviewed the entire gamut of bilateral relations spanning a wide range of sectors, including trade and investment, health and pharmaceuticals, defence and security, infrastructure, mining and mineral resources, agriculture and food security, green energy, ICT, digitization, innovation, disaster management, cooperation in science and technology, education and people-to-people linkages. The two sides agreed to continue regular exchanges at various levels to give further momentum to the bilateral relationship. Highlighting that Chile is an important partner for India in the Latin American region, Mr. Kumaran emphasized that India has complementary trade and economic relations with Chile. He mentioned that India supplies pharmaceutical products, engineering goods, automobiles, and chemicals, while importing critical mineral resources from Chile.
Mr Kumaran said that the two leaders encouraged each other to work together to explore substantial areas for bilateral defence cooperation, including capacity building and defence industrial collaboration. Both agreed to share knowledge in developing and enhancing each other’s capabilities under the existing formal defence cooperation agreement in place. He also mentioned that both leaders recognised the strategic importance of critical minerals for emerging technologies, advanced manufacturing, and clean energy transitions. They agreed to accelerate collaboration in exploration, mining and processing along with research and development to promote investment across the entire critical mineral value chain for mutual benefit. He said that they also agreed to work on promoting investments in infrastructure projects in each other’s countries. Both leaders welcomed the ongoing cooperation in training and capacity building in the field of diplomacy and noted the potential for further enhancement for cooperation in this area.
Mr Kumaran also mentioned that several business meetings are expected to be held in New Delhi tomorrow and during his visit to Mumbai on 3rd April, President Boric is expected to have official meetings with the Chief Minister and Governor of Maharashtra. In Bengaluru, he will meet the Governor and Chief Minister of Karnataka. Mr Kumaran also mentioned that President Boric is keen to attract Indian investments into Chile, highlighting several opportunities for Indian businesses, including ports, airports, mining, railways, infrastructure, and renewable energy, among others.
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