India and Chile hold first joint commission meeting.

India and Chile held their first joint commission meeting on October 16, 2020.

Highlights

  • Both the countries agreed to add new momentum to their relations.
  • They agreed to work in the fields of trade and commerce, agriculture, health and social security, defence and space.
  • The meeting was co-chaired by External Affairs Minister S Jaishankar and Chilean counterpart Andres Allamand Zavala.
  • This Joint Commission was a significant development for India and Chile relations as it was the first institutionalised dialogue between the two countries at the level of Foreign Ministers.
  • Chile decided to designate India as a priority country in its foreign policy.
  • Further, Chile will open its Consulate General in Mumbai.

India-Chile Relation

Chile is India’s gateway to Latin America and to the Pacific Alliance. Chile has established an embassy in New Delhi and India has established an embassy in Santiago. Both of these countries are members of the G20.  India and Chile are also the partners in International Solar Alliance. In 2019, India- Chile commemorated the 70th anniversary of the Establishment of Diplomatic Relations between them.

Trade

Chile started the trade with India in 1956 and became the first country in South America to sign a trade agreement with India. Later, in 2005, a Framework Agreement was signed in order to promote Economic Cooperation between them. The agreement was on the Preferential Trade Agreement (PTA) between the two that was finalised in November 2005. The PTA came into force in 2007. India’s bilateral trade with Chile stands at $2.6 billion. Thus, Chile is the fifth largest trading partner of India in the Latin American region.

People-to-people ties

Around 1000 Indian community resides Chile. They are engaged in small business and trade. On an average, 1000 people from Chile visit India annually for tourism.

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