Context:
India has successfully concluded two key rounds of trade negotiations with partner countries in Latin America, underscoring the Government’s commitment to expanding economic cooperation and deepening trade linkages with the region.
Key Highlights:
India–Peru Trade Agreement (9th Round)
- Venue: Lima, Peru
• Dates: 3rd to 5th November 2025
Discussions witnessed substantive progress across key chapters of the proposed Agreement including:
- Trade in Goods and Services
• Rules of Origin
• Technical Barriers to Trade (TBT)
• Customs Procedures
• Dispute Settlement
• Critical Minerals
India–Chile CEPA (3rd Round)
- Venue: Santiago, Chile
• Dates: 27th to 30th October 2025
Discussions covered a wide range of chapters including:
- Trade in Goods and Services
• Investment Promotion
• Rules of Origin
• Intellectual Property Rights
• TBT / SPS Measures
• Economic Cooperation
• Critical Minerals
Both sides reaffirmed a shared commitment to an early & time-bound conclusion of CEPA negotiations → to enhance market access, strengthen supply chain resilience, and deepen economic integration.
Strategic Significance
India’s growing trade engagement with Peru & Chile reflects its strategic focus on building stronger partnerships with the Latin American region through mutually beneficial & comprehensive economic cooperation frameworks.
Relevant Mains Points :
- Indo–Latin America → complementary trade structure → minerals vs market scale
• Critical Minerals → needed for EVs, batteries, electronics → key future supply chains
• Bilateral CEPA/FTA route → hedges geo–economic supply chain risks
• Peru–Chile region → copper, lithium, rare earth potential
UPSC Relevance: - GS–2 / GS–3 → International Trade, Economic Diplomacy, Critical Minerals Security