New Delhi, 09 May 2025 – In a significant development for international trade relations, India and Chile have officially signed the Terms of Reference (ToR) for the Comprehensive Economic Partnership Agreement (CEPA). The agreement, finalized on 08 May 2025, marks a pivotal step in strengthening the economic ties between the two nations.
The signing ceremony was attended by H.E. Mr. Juan Angulo, the Ambassador of Chile in India, and Shri Vimal Anand, Joint Secretary of the Department of Commerce, representing the Indian government. Both representatives expressed their commitment to fostering a robust economic partnership that will stimulate trade and investment.
The CEPA aims to expand upon the existing Preferential Trade Agreement (PTA) and will encompass a diverse array of sectors. Key areas of focus include digital services, investment promotion, micro, small, and medium enterprises (MSMEs), and critical minerals. This broader engagement is anticipated to enhance economic integration, facilitating mutual growth and cooperation between the two countries.
Historical ties between India and Chile date back to the signing of a Framework Agreement on Economic Cooperation in January 2005, followed by the PTA in March 2006. Since then, the bilateral relationship has flourished, characterized by high-level visits and increasing trade volumes.
The recent negotiations reflect both nations’ dedication to unlocking the full potential of their commercial relationship. This initiative was reiterated during the recent state visit of Chilean President, H.E. Mr. Gabriel Boric Font, to India, where leaders emphasized the importance of enhancing trade frameworks.
As both nations embark on the first round of negotiations scheduled for 26-30 May 2025 in New Delhi, the CEPA is poised to serve as a catalyst for deeper economic integration, benefitting both economies and their citizens.
