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Economic cooperation between India and Chile

New Delhi, 19 January 2005. 

The Union Cabinet today gave its approval for the signing of a Framework Agreement on Economic Cooperation between India and Chile. The Agreement will be signed on January 20, 2005 in New Delhi.

The Agreement will facilitate in strengthening of trade and economic relations between Chile and India by providing for preferential treatment to each other’s exports initially, and if found feasible by the Joint Study Group (JSG), to enter into a Free Trade Agreement between the two countries. India has entered into a Preferential Trade Agreement (PTA) with MERCOSUR (Brazil, Argentina, Paraguay and Uruguay) which will be operational in April, 2005.

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