Klaveren stated that Chile was eager to advance commerce relations with India and expedite negotiations on the proposed India-Chile Complete Financial Partnership Settlement (CEPA).
“Co-chaired a productive and wide-ranging 2nd India-Chile Joint Fee assembly. Mentioned our cooperation in commerce & funding, essential minerals, agriculture, defence, railways, well being, area, tradition and people-to-people ties. Additionally exchanged views on international hotspots and developments in every others areas,” Jaishankar posted on social media platform `X’ after the assembly.
Addressing the India-Chile joint fee assembly, the Minister stated that India values Chile’s participation within the Voice of World South Summits and praised Chilean President Gabriel Boric for his insightful remarks on the third Voice of World South Summit held on August 17.
“And we additionally thanks very a lot to your assist for our everlasting membership within the Expanded Safety Council. Your individual participation within the Commerce and Financial Ministers assembly in November 2023 can be one thing we respect very deeply,” he stated.
India and Chile first signed a Preferential Commerce Settlement (PTA) in 2006, which was carried out the next 12 months and coated a restricted variety of gadgets. It was expanded in 2017, permitting for tariff preferences on 1,110 Chilean merchandise.
The 2 nations are actually discussing the potential of getting right into a full fledged CECA which may broaden the scope of the commerce pact.
Chile is a crucial commerce companion for India in Latin America and bilateral commerce was at $2.7 billion in 2023-24. Chile is a key provider of non-copper and non-lithium exports to India.
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