ENA Global 2025-07-17 14:29:30 <p><span style="font-size:14px"><strong>New Delhi, July 17 (KNN)</strong> India is set to hold the next round of Free Trade Agreement (FTA) negotiations with Chile and Peru in August, an official confirmed on Wednesday, according to The Financial Express. </span></p> <p><span style="font-size:14px">The talks are being conducted separately with each country.</span></p> <p><span style="font-size:14px">The upcoming round with Chile will mark the second phase of discussions on a Comprehensive Economic Partnership Agreement (CEPA), while the round with Peru will be the eighth in the ongoing FTA negotiations. </span></p> <p><span style="font-size:14px">Both nations are viewed as key sources of critical minerals, with Chile already engaged in a bilateral mechanism on the subject and Peru recognised for its substantial copper reserves.</span></p> <p><span style="font-size:14px">India and Chile finalised the Terms of Reference for the CEPA in May this year. </span></p> <p><span style="font-size:14px">The agreement aims to expand upon the existing Preferential Trade Agreement (PTA) by covering a broader array of sectors including digital services, investment promotion, MSME collaboration, and critical mineral cooperation.</span></p> <p><span style="font-size:14px">With Peru, negotiations will resume from where they left off in April 2023, following the seventh round of talks. </span></p> <p><span style="font-size:14px">That round covered a wide range of chapters including Trade in Goods and Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures, Trade Remedies, Dispute Settlement, and Institutional Provisions.</span></p> <p><span style="font-size:14px">Peru has emerged as India's third-largest trading partner in the Latin America and Caribbean region. Bilateral trade has grown from USD 66 million in 2003 to USD 3.68 billion in 2023. </span></p> <p><span style="font-size:14px">In the last financial year, India's exports to Peru stood at USD 1.0 billion, while imports reached USD 4.9 billion &mdash; of which USD 4.5 billion were attributed to pearls, precious and semi-precious stones.</span></p> <p><span style="font-size:14px">Indias trade with Chile has also expanded, with imports totaling USD 2.6 billion in 2024 25. </span></p> <p><span style="font-size:14px">Key imports from Chile included fruits, nuts, and mineral ores, valued at USD 1.5 billion. During the same period, Indias exports to Chile stood at USD 1.1 billion, comprising primarily pharmaceuticals, automobiles, and machinery.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42841 https://knnindia.co.in/news/newsdetails/global/india-to-resume-fta-talks-with-chile-focus-on-critical-minerals 2025-07-17 14:29:30 knnindia.co.in