India and Chile advanced negotiations on a proposed Comprehensive Economic Partnership Agreement (CEPA) at a high-level meeting in Santiago on August 26, with New Delhi aiming to conclude the pact by the end of this year.
Commerce Secretary Rajesh Agrawal met Paula Estevez Weinstein, Chile's Vice-Minister of International Economic Relations, to take stock of the talks, the Ministry of Commerce and Industry said on Sunday, with discussions centred on accelerating the process and building a comprehensive framework for bilateral trade, PTI reported.
The Indian side reiterated its commitment to an open, sustained and balanced approach to the negotiations, with both delegations pointing to India and Chile's shared position within the Global South, and a common strategic outlook, as a foundation for deepening economic cooperation.
The two sides also agreed on the need to build on the existing momentum in the relationship, "ensuring that the CEPA delivers concrete outcomes for businesses in the two countries," the ministry said.
On the timeline, the ministry said New Delhi was targeting a conclusion of talks within the year.
"India remains committed to concluding the CEPA negotiations within this year," it said, adding that the goal was a balanced framework offering equitable, commercially meaningful outcomes for businesses on both sides.
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Agrawal flagged considerable scope for expanded cooperation across sectors including healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering, noting that a finalised agreement would add fresh momentum to the two countries' growing trade and economic partnership.
The proposed pact is expected to open new avenues for trade and investment while encouraging cooperation in technology, talent and resilient supply chains, laying the groundwork for stronger long-term economic ties between the two nations.
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