New Delhi, May 31 (IANS). The Central Government said that the Indo-Til-Chili Comprehensive Economic Partnership Agreement (CEPA) would pave the way for intensive economic participation and building a strong global value chain between the two countries.
The CEPA aims to increase the capacity of trade and commercial relations between India and Chile. Also, employment, bilateral trade and economic growth have to be promoted.
The Ministry of Commerce said that the two sides are committed to a profitable and searching approach to ensure successful and meaningful compromises.
The CEPA was signed earlier this month on the terms of the reference to interaction on the CEPA, furthering the commitment between India and Chile.
The first round of talks began on 26 May, which was inaugurated by Commerce Secretary Sunil Barthwal in the presence of Chile’s Ambassador Juan Angulo in India.
The next round of talks is expected to be in July or August and inter-satisfactory discussions will be held through a virtual conference to address pending issues before the upcoming meeting.
In April, the two countries welcomed the start of CEPA talks during Chile’s President Gabriel Borik’s state visit to India and his meeting with Prime Minister Narendra Modi.
The President of Chile said that India is a priority partner for Chile in the global economy and highlighted the need to increase trade between the two countries.
The two leaders welcomed the beginning of a balanced, ambitious, broad and mutually beneficial CEPA aimed at achieving intensive economic integration.
Chile had 17 representatives in the talks team and led the Indian delegation to the Joint Secretary, the Department of Commerce, Vimal Anand.
On this occasion 17 subjects were discussed, in which business of goods and service, movement of individuals, rules of generation, hygiene and plant hygiene measures, technical obstacles in business, customs procedures and business facilities, initial provisions and general definitions, main and institutional provisions, main and institutional provisions, main and institutional provisions, main and institutional provisions, main and institutional provisions, last provisions, transparency, dispute disposal, economic support, MSME and women’s economic empowerment, important and strategic minerals and strategic minerals and strategic minerals and strategic minerals and social empowerment, Global Value Chen, Investment Promotion- Cooperation and Intellectual Property Rights include.
-IANS
SKT/ABM
