New Delhi: India and Chile will soon begin interviews on a comprehensive economic partnership agreement (CEPA) focusing on a wide range of sectors such as critical minerals, Antarctica and digital public infrastructure, Prime Minister Narendra Modi said in a joint statement with Chilean President Gabriel Boric.
The statement came after Modi met Boric, who is on the five -day state visit to India, his first from the office to review bilateral ties and discuss global issues.
“The partnership in critical minerals will be emphasized. There will be efforts to create resistant bid and value chains. In agriculture we will work to strengthen food safety by using each other’s strengths,” the statement said.
“India is ready to share its positive experience with Chile in the field of digital public infrastructure, renewable energy, railways, space and more,” she said.
“We see Chile as a gateway to Antarctica. We welcome today’s agreement on a letter on the intention to strengthen cooperation in this vital region,” he added.
According to the Ministry of Trade, the export of Indian goods to Chile in FY24 was $ 1.18 billion, which is 1.42% per year, while imports were $ 1.51 billion, which is 5.45% per year.
Key commodities
The main commodities exported to Chile include motor vehicles, formulation with drugs, engineering goods, drugs and drugs, textiles, ceramic products, glass, spices, fruits, vegetables and oil products. In return, India receives copper ore, halogens, sulphate, chemical pulp, walnuts, etc.
India focuses on strengthening the exports of maize, fresh or dried bananas, oil lodges, oil cakes and other agricultural objects to Chile, sharing boundaries with Peru, Bolivia and Argentina.
Chile, Argentina and Bolivia form a “so-called lithium triangle”, which holds some of the largest deposits of lithium around the world-mineral, which is essential for Indian ambitions to switch to sustainable energy sources and reduces its carbon footprint.
Mineral plays an essential role in electric vehicles, batteries, mobile phones and other energy storage technologies.
“Increasing cooperation in defense is a symbol of our deep mutual trust. In this area we move forward to create industrial production and supply chains according to the needs of others. We will increase cooperation between agencies in both countries to face common challenges such as organized crime, drug trafficking and terrorism.
“India and Chile are globally coinciding with the fact that all stresses and disputes should be resolved by dialogue. We are unanimous when we say that to face global challenges, the UN and other institutions are required,” he added.
(Tagstotranslate) India Chile Cepa (T) Critical Minerals (T) Antarctica Cooperation (T) Digital Public Infrastructure
