India Commerce Secy Rajesh Agrawal to visit Chile this month to review CEPA talks: Official

New Delhi: Commerce Secretary Rajesh Agrawal will visit Chile later this month to take stock of the progress of the India-Chile trade agreement, an official said on Wednesday.

India and Chile implemented a Preferential Trade Agreement (PTA) in 2006 and are now negotiating to widen its scope for a CEPA (Comprehensive Economic Partnership Agreement).

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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, MSMEs (micro, small and medium enterprises), and critical minerals.

The official said that during the secretary's visit, progress of negotiations will be reviewed.

"If we get a good deal, we are on... if we do not get a good deal, I do not have a gun on my head...," the official added.

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Chile is the fifth-largest trading partner of India in the LAC (Latin American Countries) region.

The senior government official also said that India is going ahead with the negotiations for a Preferential Trade Agreement with the Mercosur bloc.

Mercosur is a trading bloc in Latin America, comprising Brazil, Argentina, Uruguay and Paraguay.

India may also negotiate the pact with Mexico and Kenya.