Modi and Boric announce Comprehensive Economic Partnership talks; focus on critical minerals, defense, and cultural exchange
New Delhi: Prime Minister Narendra Modi on Tuesday held talks at Hyderabad House here with Chile’s President Gabriel Boric, after which the two leaders announced that negotiations for a Comprehensive Economic Partnership Agreement between the two nations will begin soon. Mr Modi referred to Chile as the “Gateway to Antarctica”, while President Boric invited Mr Modi to visit Chile and Antarctica, as the two nations signed four pacts, including a letter of intent for cooperation in Antarctica. Another one was on cooperation in the field of copper exploration as the two nations decided to work together in the sphere of critical minerals, including copper and lithium. Chile has the largest reserves of copper in the world and substantial lithium reserves, amounting to 30 per cent of global reserves. India is interested in critical minerals for electrical vehicles and new-age batteries, senior MEA officials said later.
The two countries also decided to increase defence cooperation, including in defence industrial manufacturing and supply chains, with Mr Modi saying it indicated the trust between the two nations. He added Chile was an important partner for India in the Latin American region. The other two pacts inked were in the fields of culture and disaster management. The Chilean President also called for Bollywood films to be shot in his country that would strengthen the cultural connect between the two nations.
Senior MEA officials said India already has a "partial" trade pact with Chile, comprising concessional duties, and "the idea is to expand" this to a comprehensive pact comprising trade, services and investment. Officials said India has already shared a draft agreement for a possible migration and mobility pact with the Chilean side. Officials said both sides want an increase in investment in various sectors. Chile for instance wants increase in investment in its mining sector. Chile also wants to increase its agricultural products to India.
In his remarks before the media, Mr Modi said the visit of the Chilean President would impart a “new momentum and direction” to bilateral ties. He said resilient supply and value chains would be established between the two countries who would also cooperate in the spheres of agriculture and food security as well as digital public infrastructure. He said India is ready to share its knowhow in railways and space as well.
Mr Modi hailed Chile for declaring November 4 as its National Yoga Day and termed it “inspiring”, adding that the two countries would also work together in the ayurveda and traditional medicine sectors. Mr Modi declared the two nations would also work together to combat organised crime, drug trafficking and terrorism. The two countries also decided to work together to simplify visa procedures and begin efforts for a student exchange programme. Both also agreed for the need for reform in the UN Security Council (UNSC).
Mr Modi said while the two nations may be separated by the oceans, they have many similarities. He said the Himalayas in the case of India and the Andes mountains in the case of Chile defined life in these countries for centuries. While the waters of Indian Ocean lashed against the shoes of India with energy, the Pacific Ocean did similarly for Chile.
The Chilean President in his remarks also spoke about how the nations are strengthening ties and referred to cooperation in knowledge and training in the field of critical minerals such as copper. He also referred to critical minerals like lithium in his nation.
On Wednesday, the Chilean President will also deliver an address on “Chile and India -- Side by Side on the Global South” at think tank Indian Council of World Affairs (ICWA) in New Delhi. Later on Wednesday, he will also visit Agra to see the Taj Mahal, after which he will visit Mumbai and Bengaluru in the next few days to meet business and industry representatives, startups, innovators and tech leaders. The visit will continue till Saturday.
