Fri May 09 10:52:43 UTC 2025: ## India and Chile Sign Terms for Comprehensive Economic Partnership Agreement

**New Delhi, May 9, 2025** – India and Chile have taken a significant step towards boosting bilateral trade by signing the terms of reference for a Comprehensive Economic Partnership Agreement (CEPA). The agreement, building upon an existing Preferential Trade Agreement (PTA), aims to significantly broaden economic cooperation between the two nations.

The terms were signed by Chilean Ambassador Juan Angulo and Vimal Anand, India’s chief negotiator and Joint Secretary in the Ministry of Commerce and Industry. The CEPA will encompass a wider range of sectors than the PTA, including digital services, investment promotion, cooperation with Micro, Small, and Medium Enterprises (MSMEs), and critical minerals.

Bilateral trade between India and Chile has already seen substantial growth, doubling from $1.8 billion in 2016-17 to $3.6 billion in 2024-25 (as of February 2025). However, India currently maintains a trade deficit with Chile of approximately $2.5 billion. The CEPA is expected to address this imbalance and further strengthen economic ties. This agreement comes as India finalizes negotiations for a similar FTA with the UK and pursues several other such agreements.

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