The Department of Commerce said India is committed to concluding ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with South American nation Chile by the end of this year. It said with bilateral trade growing steadily, India remains committed to concluding the negotiations within this year, with outcomes that are equitable, commercially meaningful and beneficial to businesses in both countries.
Commerce Secretary Rajesh Agarwal is currently in Chile to review the progress of the talks. During a meeting with Paula Estevez Weinstein, Vice-Minister of International Economic Relations of Chile, Agarwal emphasised the need to build on the strong India-Chile relationship and ensure that the CEPA translates shared ambitions into real opportunities for trade and investment.
Meanwhile, India and Chile implemented a preferential trade agreement (PTA) in 2006. Besides, the bilateral trade between India and Chile is modest. In 2024-25, India's exports to Chile declined 2.46 per cent to just $1.15 billion. However, imports grew 72 per cent to $2.60 billion.
