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Hans India
3 days ago
- Business
- Hans India
India-Chile economic pact to boost global value chains
The India-Chile Comprehensive Economic Partnership Agreement (CEPA) will pave the way for a deeper economic partnership and the creation of strengthened global value chains between the two countries, the government has said. The CEPA aims to unlock the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth. The modalities of negotiation will emerge through stakeholder consultations and industry feedback. Both sides are committed to a gainful and explorative approach to ensure a successful and meaningful agreement, said the Commerce Ministry. In furtherance of the commitment made during the high-level dialogue between India and Chile, the terms of reference for negotiating the CEPA were signed earlier this month. The first round of negotiations commenced on May 26, with the opening ceremony inaugurated by Commerce Secretary, Sunil Barthwal in the presence of Ambassador of Chile to India, Juan Angulo. The next round of negotiations is expected in July or August and will be preceded by inter-sessional discussions through virtual conferences to address outstanding issues in advance of the upcoming meeting. The launch of the CEPA negotiations was welcomed by both nations during the state visit of the President of Chile, Gabriel Boric Font, to India in April and his meeting with Prime Minister Narendra Modi. The Chilean President conveyed that India is a priority partner for Chile in the global economy and highlighted the need to explore strategies for enhanced and diversified trade between the two countries. Both leaders welcomed the initiation of negotiations towards a balanced, ambitious, comprehensive, and mutually beneficial CEPA aimed at achieving deeper economic integration. The Chilean negotiating team had 17 delegates and the Indian delegation was headed by Chief Negotiator Vimal Anand, Joint Secretary, Department of Commerce. Discussions were held across 17 themes including, Trade in Goods, Trade in Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Initial Provisions and General Definitions, Core and Institutional Provisions, Final Provisions, Transparency, Dispute Settlement, Economic Cooperation, MSMEs and Women's Economic Empowerment, among others.
India Gazette
3 days ago
- Business
- India Gazette
First round of India-Chile CEPA negotiation concludes in Delhi
New Delhi [India], May 30 (ANI): In furtherance of the commitment made during the high-level dialogue between India and Chile, the Terms of Reference for negotiating the India-Chile Comprehensive Economic Partnership Agreement (CEPA) were signed on May 8, 2025. According to a release from the Ministry of Commerce & Industry, the first round of negotiations commenced on May 26, 2025, with the Opening Ceremony inaugurated by Commerce Secretary Sunil Barthwal in the presence of the Ambassador of Chile to India, HE Juan Angulo. During the inauguration, Barthwal emphasised that the agreement would pave the way for a deeper economic partnership and the creation of strengthened global value chains between the two countries. The next round of negotiations is expected in July/August 2025 and will be preceded by intersessional discussions through virtual conferences to address outstanding issues before the upcoming meeting. The launch of the CEPA negotiations was welcomed by both nations during the State Visit of the President of Chile, HE Gabriel Boric Font, to India in April 2025 and his meeting with the Hon'ble Prime Minister of India, Narendra Modi. President Boric conveyed that India is a priority partner for Chile in the global economy and highlighted the need to explore strategies for enhanced and diversified trade between the two countries. Both leaders welcomed the initiation of negotiations towards a balanced, ambitious, comprehensive, and mutually beneficial CEPA aimed at achieving deeper economic integration. The Chilean negotiating team, comprising 17 delegates, was led by Chief Negotiator Pablo Urria, Director for Asia & Oceanic at the Secretariat of International Economic Relations, Ministry of Foreign Affairs of Chile. The Indian delegation was headed by Chief Negotiator Vimal Anand, Joint Secretary, Department of Commerce. Discussions during the round were held across 17 thematic tracks including: Trade in Goods, Trade in Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Initial Provisions and General Definitions, Core and Institutional Provisions, Final Provisions, Transparency, Dispute Settlement, Economic Cooperation, MSMEs, Women's Economic Empowerment, Critical and Strategic Minerals Trade & Sustainable Development, Global Value Chains, Investment Promotion & Cooperation, and Intellectual Property Rights. The CEPA aims to unlock the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth. The modalities of negotiation will emerge through stakeholder consultations and industry feedback. Both sides are committed to a gainful and explorative approach to ensure a successful and meaningful agreement. (ANI)
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Business Standard
09-05-2025
- Business
- Business Standard
India, Chile to begin negotiations for comprehensive trade deal in May
India and Chile will hold their first round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in New Delhi on May 26-30, aiming to significantly upgrade their bilateral trade relationship. Both sides on Thursday signed the terms of reference (ToR) for a CEPA. The mutually agreed ToR was signed by Juan Angulo, ambassador of Chile in India, and Vimal Anand, joint secretary in the Department of Commerce, as well as the Indian chief negotiator for India-Chile CEPA. The CEPA aims to build upon the existing preferential trade agreement (PTA) between the two countries and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critical minerals, thereby enhancing economic integration and cooperation. India had a $1.3 billion trade deficit with Chile in 2024, with $1.1 billion exports and $2.4 billion imports. A Framework Agreement on Economic Cooperation was signed between the two countries in January 2005, followed by a PTA in March, 2006. An expanded PTA was subsequently signed in September 2016 and became effective from May 16, 2017. In April 2019, both countries agreed to pursue a further expansion of the PTA with three rounds of negotiations between the years during 2019-2021. 'To deepen their economic engagement, both sides expressed their intention to negotiate a CEPA to unlock the full potential of their trade and commercial relationship, boosting employment, facilitating investment promotion, and cooperation and exports, as suggested by the Joint Study Group (JSG) established under the Framework Agreement. The JSG report was finalised and signed on April 30, 2024,' said India's commerce department in a statement. The statement said the shared vision was reaffirmed during the recent state visit of Chile's president, Gabriel Boric Font, to India April 1-5 on an invitation from Prime Minister Narendra Modi. 'Leaders from both sides acknowledged that trade and commerce have served as a strong pillar of the bilateral relationship. They emphasised the importance of enhancing the existing trade framework to unlock new opportunities for growth. In this spirit, the two leaders acknowledged the signing of the mutually agreed Terms of Reference and welcomed the launch of negotiations for a CEPA, aiming to establish a balanced, ambitious, comprehensive, and mutually beneficial agreement for a deeper economic integration.'
Fibre2Fashion
09-05-2025
- Business
- Fibre2Fashion
India & Chile sign terms to launch CEPA talks, first round in May
India and Chile have recently taken a notable step towards deepening their economic ties by signing the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA). The ToR were formally signed by Juan Angulo, Ambassador of Chile to India, and Vimal Anand, joint secretary in the Department of Commerce, Ministry of Commerce & Industry, serving as the chief negotiator for India in the agreement. Both sides reiterated their shared vision for strengthening bilateral relations and look forward to fruitful discussion during the first round scheduled for May 26-30th 2025 in New Delhi. India and Chile have signed the terms of reference (ToR) for CEPA, marking a key step in deepening economic ties. Building on their 2006 Preferential Trade Agreement, the CEPA will cover broader sectors such as digital services, MSMEs, and critical minerals. The decision follows president Boric's April 2025 visit to India and the joint study group report finalised on April 30, 2024. The CEPA aims to build upon the existing Preferential Trade Agreement (PTA) between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, micro, small and medium enterprises (MSME), critical minerals etc thereby enhancing economic integration and cooperation, Ministry of Commerce & Industry said in a press release. This shared commitment was reaffirmed during the recent state visit of the President of Chile, Gabriel Boric Font, to India from April 1-5, 2025, at the invitation of Prime Minister Narendra Modi. Both leaders recognised that trade and commerce have been a vital pillar of bilateral ties and stressed the need to strengthen the existing trade framework to explore new avenues for growth. In this context, they acknowledged the signing of the mutually agreed ToR and welcomed the commencement of CEPA negotiations aimed at achieving a balanced, ambitious, comprehensive, and mutually beneficial agreement to deepen economic integration. India and Chile, strategic partners with warm ties, strengthened their economic relationship through a framework agreement in 2005 and a PTA in 2006, later expanded in 2016. From 2019–2021, three negotiation rounds were held to further broaden the PTA. To enhance economic engagement, both sides agreed to pursue a CEPA, guided by the joint study group, whose report was signed on April 30, 2024. Fibre2Fashion News Desk (SG)
The Hindu
09-05-2025
- Business
- The Hindu
India, Chile sign terms of reference for new trade deal
Even as India has finalised negotiations for the FTA with the U.K. and talks are underway on several other similar agreements, the government on Friday (May 9, 2025) announced it has signed the terms of reference with Chile for a Comprehensive Economic Partnership Agreement (CEPA). The mutually agreed terms were signed by Juan Angulo, Ambassador of Chile in India, and Vimal Anand, joint secretary in the Ministry of Commerce and Industry. Mr. Anand is also the chief negotiator for the India-Chile CEPA on behalf of India. 'The CEPA aims to build upon the existing PTA (Preferential Trade Agreement) between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critical minerals etc. thereby enhancing economic integration and cooperation,' the government said in a release. India's bilateral trade with Chile stood at $3.6 billion in 2024-25 as of February 2025. This is double the $1.8 billion of trade between the two countries in 2016-17, the earliest period for which there is data. However, India maintains a trade deficit with Chile, with the deficit at around $2.5 billion in 2024-25.
