India and Chile Forge Path to Enhanced Economic Cooperation

India and Chile have charted a course towards bolstered economic collaboration by officially signing the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA). This landmark move is seen as a significant step forward in the trade relationship between these two nations.

The official signing of the ToR was conducted by Juan Angulo, the Chilean Ambassador to India, and Vimal Anand, the Joint Secretary in India's Department of Commerce. These leaders affirmed their shared vision for deepening bilateral ties and enhancing economic cooperation.

Representatives from both countries highlighted that this Comprehensive Economic Partnership Agreement intends to extend beyond the existing Preferential Trade Agreement, aiming to include sectors such as digital services and critical minerals. The first round of CEPA talks is scheduled for late May 2025 in New Delhi, demonstrating the commitment of both nations to forge an ambitious and mutually advantageous agreement.

(With inputs from agencies.)