Critical Minerals, Antarctic Focus of India-Chile Conversations on Economic Partnership | Today news

New -delhi: India and Chile will soon start talking about a comprehensive Economic Partnership Agreement (CEPA) focusing on a wide range of sectors such as critical minerals, Antarctica and digital public infrastructure, Premier Narendra Modi said in a joint statement with Chilean President Gabriel Boric on Tuesday. The statement came after Modi met with Boric, who was on a five -day state visit to India, his first, to review bilateral ties and discuss global issues. “Partnerships in critical minerals will be emphasized. An attempt will be made to establish resilient supply and value chains. In agriculture, we will work together to improve food security by utilizing each other’s strengths,” the statement says. Read also | Ministry of Commerce, which has completed the terms of reference for free trade with Chile. “We see Chile as the gate to Antarctica. We welcome today’s agreement on the intention to strengthen the collaboration in this important region,” he added. According to the Ministry of Trade, the export of India’s goods to Chile stood on FY24 of $ 1.18 billion, by 1.42% per annum, while imports rose $ 1.51 billion annually, by 5.45% annually. Important commodities The most important commodities exported to Chile include motor vehicles, medicine formulations, engineering goods, medicines and pharmaceuticals, textiles, ceramic products, glassware, spices, fruits, vegetables and petroleum products. In return, India receives copper ore, halogens, sulfate, chemical wood pulp, walnuts, etc. India is aimed at promoting the export of maize, fresh or dried bananas, peanuts, oilcakes and other agricultural to Chile, sharing boundaries with Peru, Bolivia and Argentina. Chile, Argentina and Bolivia form the ‘so-called lithium-triangle’, which contains some of the largest lithium crashes worldwide-a mineral that is decisive for the ambition of India to transition to sustainable energy sources and the carbon footprint. Read also | India-EU Free Trade Conversations: Carbon tax on the table The mineral plays an important role in electric vehicles, battery manufacturing, cell phones and other energy technologies. “Increasing collaboration in the field of defense is a symbol of our deep mutual confidence. In this area, we will move forward to create the industrial manufacturing and provision chains of defense according to each other’s needs. We will increase the cooperation between the agencies of both countries to face general challenges such as organized crime, drug trafficking and terrorism,” the joint statement says. “Worldwide, India and Chile agree that all tensions and disputes must be resolved through dialogue. We are unanimous to say that in order to face global challenges, the United Nations Security Council reform is needed,” he added. Read also | India-man-free trade is likely to be signed soon, says officials catch all the business news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business Newsnewscritical Minerals, Antarctica Focus of India-Chile talks about economic partnership more less