Chilean Foreign Minister aims to boost trade treaty with India

Chilean Foreign Minister Alberto Van Klaveren recently described India as a "very important partner" for Chile and expressed hope to advance bilateral relations towards a Comprehensive Economic Partnership Agreement (CEPA). 

Klaveren, who arrived in India on Tuesday for a two-day official visit, participated in the second India-Chile Joint Commission Meeting, co-chaired by Indian External Affairs Minister S Jaishankar.

India is considered a key partner for Chile in the Latin American region. According to the Ministry of External Affairs, Klaveren's visit provides an opportunity for both countries to review the progress in their bilateral relations and explore new avenues for cooperation, thereby further strengthening their ties.

In an interview with ANI, Klaveren noted that India is a very important partner for Chile, highlighting India's growth, culture, and civilization as aspects that Chile admires. He also emphasized the potential to expand and strengthen ties with India in both economic and political terms.

Ahead of the India-Chile Joint Commission Meeting, Klaveren expressed hope for strengthening mutual relations. Regarding the CEPA negotiations, he mentioned that one of Chile's objectives with India is to move towards establishing a CEPA agreement. He stated that the necessary studies and analysis of terms of reference have already been conducted, and he hopes the next step will be the initiation of negotiations. Although he acknowledged that the process might take time, he expressed confidence in a successful outcome.

Chile's trade in 2023 is estimated at $2,847 billion. Last year, India was the 16th largest destination for Chile's non-copper and non-lithium exports, amounting to $560 million, with 30 per cent of this figure related to food exports. Chile was also the first nation to sign a Partial Scope Agreement (PSA) with India, which has been in force since 2007 and was extended in 2017.