Piyush Goyal, Chile FM Hold Talks to Boost Bilateral Trade and Investment

A high-level delegation from Chile led by Francisco Perez Mackenna, Minister of Foreign Affairs of Chile is on an India visit for bilateral engagements aimed at strengthening economic and commercial cooperation between the two countries, Ministry of Commerce and Industry said on Wednesday.

During the ongoing visit from May 9-15, Union Minister of Commerce and Industry Piyush Goyal held discussions with the Chilean Minister on further deepening bilateral trade and investment ties and enhancing economic cooperation in priority sectors. Both sides noted the steady growth in India Chile economic relations and reaffirmed their shared commitment to expanding bilateral trade, investment and business-to-business engagement.

What did the discussion focus on?

The discussions focused on the ongoing negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between India and Chile. Both sides acknowledged the importance of CEPA in unlocking the full potential of the bilateral economic relationship and expressed their commitment to work towards its early conclusion, as per the statement.
Commerce Secretary also held a separate meeting with Paula Estevez, Chile's Vice-Minister of International Economic Relations (SUBREI). Apart from discussing the modalities for early conclusion of CEPA, the interactions also covered a broad range of issues relating to trade facilitation, market access, investment promotion and strengthening institutional economic engagement between the two countries.

As a part of the bilateral engagement, an India-Chile Business Roundtable was also organized in New Delhi with participation from leading business representatives and industry stakeholders from both countries. The Roundtable served as an important platform for exploring new avenues of collaboration in sectors such as critical minerals, renewable energy, agri-business, infrastructure, pharmaceuticals, digital services, logistics and advanced manufacturing, as per the statement.

Both sides emphasized the strong complementarities between the Indian and Chilean economies and underscored the importance of resilient supply chains, sustainable development and greater private-sector participation in advancing bilateral economic cooperation, the statement read.

India and Chile share warm and longstanding relations marked by mutual trust, democratic values, and growing economic engagement. The visit further strengthened the momentum in bilateral ties and reaffirmed the shared commitment of both countries towards building a stronger and future-oriented economic partnership.

(With inputs from ANI)