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India and Chile's CEPA talks to focus on MSMEs, investment, and more
India and Chile formally signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA), the Ministry of Commerce & Industry said on Friday.
The CEPA is intended to build upon the existing Preferential Trade Agreement (PTA) between the two countries, broadening the scope of cooperation to include digital services, investment, and critical minerals. It also includes micro, small and medium enterprises (MSMEs). The document was signed by Chile's Ambassador to India, Juan Angulo, and Vimal Anand, joint secretary in India's Department of Commerce and the lead negotiator for the agreement.
The upcoming talks follow Chilean President Gabriel Boric Font's state visit to India in April 2025. During the visit, leaders from both sides spoke on the importance of trade and economic collaboration in their bilateral agenda. Both nations also endorsed the CEPA initiative as a strategic measure to promote employment, investment, and shared economic growth.
India-Chile economic ties
The two countries share a strong relationship, built on key agreements like the Framework Agreement on Economic Cooperation signed in 2005 and the PTA introduced in 2006, which was expanded in 2016. In 2019, both sides began work on further expanding the PTA, leading to the Joint Study Group's final report in April 2024. That report recommended moving forward with a CEPA.
India is also one of Chile's top trading partners in Asia. Trade includes Indian exports like pharmaceuticals, textiles, and automobiles, and Chilean exports such as copper, fresh fruits, and wood pulp.
The first round of negotiations is scheduled for May 26–30, 2025, in New Delhi.
India's trade talks with UK, US
India just finalised a free trade agreement (FTA) with the United Kingdom earlier this week, after nearly three years of negotiations. The FTA included the elimination of tariffs on 99 per cent of Indian exports, benefiting sectors like textiles, footwear, and gems. Tariffs on 90 per cent of UK goods exported to India will also be reduced, with most expected to become tariff-free within a decade. Key beneficiaries include British whisky, gin, chocolates, and automotive products.
India is also negotiating a bilateral trade agreement with the United States.
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