New Delhi [India], December 15 (ANI): Chilean Ambassador in India, Juan Angulo, is hopeful that the next round of talks with India for a Comprehensive Economic Partnership Agreement (CEPA) would be the final round and may end up in the finalisation of the trade pact.
“The idea is that in December, January, we can still have a new round of negotiation, could be a final round of negotiation,” the Chilean envoy told ANI, speaking on the sidelines of the Indo-South America Trade and Investment Conclave, organised by PhDCCI.
The CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critical minerals, etc., thereby enhancing economic integration and cooperation.
India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) on 08 May 2025, marking a significant advancement in their bilateral trade relations.
“…the negotiations, these negotiations have started in May and we just had the fourth round of negotiations. It was a very successful one and we are very close to finish several chapters of negotiation. The idea is to that in December, January we can have a still a new round of negotiation, could be a final round of negotiation. Of course that will depend on the negotiation itself. I cannot say of course how it could be but we are confident in going into the right path,” the envoy said today.
Delving into the services sector collaboration, he said the negotiation is in process and the chapters around services are “well advanced”.
Without getting into specifics, he affirmed that it will be beneficial for both sides, especially for Indian companies that want to enter into the Chilean market and also for Chilean companies doing in the same sector.
“Services have been a success story in Chile in the last years, a lot of exports on that so we are looking forward that our CEPA will contribute to the same objective,” the Chilean envoy said.
He also confirmed there would be a chapter on critical minerals in the CEPA.
“India is one of the few countries, which we have a chapter special in this area. We know of the interest and the need of India for strategic minerals, copper, lithium and others, and we are of course very much in favor of collaboration in the exploitation and added value of these products into the value chain. So yes, it is definitely part of the negotiation,” he noted.
Asked whether there is a great scope of further investment from India into Chile and what could be the potential sectors, he said mining and green energy may be tapped.
“Many sectors are open to investments in the country. Mining is one of those, as we have projects on it continuously. But a lot of projects on infrastructure are also there. There is a calendar of projects with a huge amount of volume as the market. And green economy, of course, energy, clean energy. are receiving a lot of investments in photovoltaic, and new technology linked to this new investment is very important. Innovation in this area is very important areas like that are of interest and possibilities for Indian investors,” the envoy supplemented.
Bilateral ties have steadily strengthened over the years with the exchange of high-level visits. A Framework Agreement on Economic Cooperation was signed between the two countries in January, 2005, followed by Preferential Trade Agreement (PTA) in March, 2006. Since then economic and commercial relations between India and Chile have remained robust and continue to grow. (ANI)
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