♦ India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA), marking a significant advancement in their bilateral trade relations.

♦ The mutually agreed ToR were duly signed by H.E. Juan Angulo, Ambassador of Chile in India and Vimal Anand, Joint Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India, also the Chief Negotiator for India-Chile CEPA from the Indian side.

♦ Both sides reiterated their shared vision for strengthening bilateral relations and look forward to fruitful discussion during the first round scheduled for 26-30th May, 2025 in New Delhi.

♦ 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.