After Brazil, Chile to expand defence industry partnership with India

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After Brazil, Chile, another economic powerhouse in South America with a strong military apparatus, is keen to expand its defence industry partnership with India. Chilean foreign minister Alberto van Klaveren, who visited Delhi and Mumbai last week, sought defence industry partnership with India including exports that suit the Chilean military.

Chile has also invited India to participate in one of South America’s biggest air shows and would prefer Indian government defence entities to showcase their products, its ambassador to India Juan Angulo told ET.

In 2020, the Chilean Navy had purchased an anchor handling towing supply and standby ocean support vessel from India. Besides, Larsen and Toubro Ltd built and supplied Ship Janequeo to the Chilean Navy a few years ago. “The foreign minister’s visit was a milestone one in many respects and would help to prepare for our presidential visit planned in the first quarter of the next year. From defence to agriculture to Indian investments in Chile to starting CEPA (Comprehensive Economic Partnership Agreement) negotiations, every item was discussed by the two ministers,” Angulo said. “Chile is an open economy and one of the strongest in the region for years and also ready to serve as India’s gateway across the region. Chile is extremely keen for Indian presence in the country’s lithium and copper mines that would meet India’s requirements.”

India and Chile have signed a Preferential Trade Agreement and are looking forward to upgrading it to CEPA. Chile has been invited to attend the G20 Summit under Brazilian presidency in November and there is a possibility of a meeting between the leaders of India and Chile on the sidelines of the summit.Chile’s envoy said the country is eyeing the Indian market to increase the supply of agricultural products as it complements India and is not a competitor.The India-Chile Preferential Trade Agreement was signed in 2006 and came into effect in September 2007. In 2016, India approved the broadening of the Partial Scope Agreement with Chile. Besides the trade pact, the two countries signed an agreement in 2020 to end double taxation and signed a memorandum of understanding in 2021 for the purchase of pharmaceutical products. [ad_1]

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After Brazil, Chile to expand defence industry partnership with India

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