CEPA to open new avenues for greater trade and investment
India reiterated its commitment to openness, sustained engagement and a balanced approach in strengthening the India–Chile economic Partnership, with a focus on creating meaningful opportunities for businesses and people in both countries following a meeting between Commerce Secretary Rajesh Agrawal and Paula Estévez Weinstein, Vice-Minister of International Economic Relations, Chile.
Both sides also took note of the advance negotiations on the India–Chile Comprehensive Economic Partnership Agreement (CEPA) during the meeting held 26 Aug in Santiago.
The shared identity of India and Chile as members of the Global South, along with their common strategic vision, provides a strong foundation for deepening bilateral economic cooperation and advancing shared prosperity, the Ministry of Commerce and Industry said on 30 Aug.
Both sides emphasised the importance of building on the strong and growing India–Chile relationship and ensuring that the CEPA translates shared objectives and aspirations into concrete and commercially meaningful opportunities for businesses on both sides.
The Commerce Secretary highlighted the immense potential for enhanced economic cooperation in sectors including healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering. The successful conclusion of the CEPA negotiations would provide further momentum to the growing bilateral trade and economic partnership between the two countries.
India remains committed to concluding the CEPA negotiations within this year, with the aim of delivering a balanced and mutually beneficial framework that provides equitable and commercially meaningful outcomes for businesses on both sides.
The CEPA is expected to open new avenues for greater trade and investment, while fostering cooperation in technology, talent and resilient supply chains, thereby creating stronger foundations for long-term economic cooperation between India and Chile. Fiinews.com
