New Delhi, 1 April

India and Chile on Tuesday announced starting negotiations on a comprehensive economic partnership pact as Prime Minister Narendra Modi and Chilean President Gabriel Boric Font held wide-ranging talks focusing on boosting the ties in areas of trade, defence, critical minerals and health.

Describing Chile as an important 'friend and partner' for India in Latin America, Modi said several new initiatives were identified to enhance overall cooperation in the coming decade.

Boric, accompanied by a high-level delegation comprising ministers, members of Parliament, senior officials, and business leaders, is on a five-day state visit to India.

'India and Chile may be at different ends of the world map, there may be vast oceans separating us, but nature has linked us with unique similarities,' Modi said in his media statement.

He further said: 'The waves of the Indian Ocean flow with the same energy in India as the waves of the Pacific Ocean touch the shores of Chile.'

The prime minister said India is ready to share its positive experience with Chile in the areas of digital public infrastructure, renewable energy, railways, space and others.

'We welcome the growth in mutual trade and investment. We agree that there is also untapped potential for further cooperation in this,' he said.

'Today we have instructed our teams to begin discussions on a mutually beneficial comprehensive economic partnership agreement.'

Modi further said that the India-Chile partnership will be strengthened in the field of critical minerals and work will be done to establish resilient supply and value chains.

In the field of agriculture, cooperation will be done to ensure food security by combining each other's capabilities, he said.

'The growing cooperation in the field of defence is a symbol of our deep mutual trust. We will move forward to create defense industrial manufacturing and supply chains in this area according to each other's needs,' Modi said.

'We will increase cooperation between the agencies of both the countries to face common challenges like organised crime, drug trafficking, terrorism,' he said.

'At the global level, India and Chile agree that all tensions and disputes should be resolved through dialogue,' he noted.

The prime minister also noted that India and Chile are 'unanimous that reform of the United Nations Security Council and other institutions is essential to face global challenges.' Together we will continue to contribute to global peace and stability, he said.

Both sides also inked an agreement on the cultural exchange.

'We also considered simplifying the visa process between the two countries. We will also continue to make efforts to increase student exchange between India and Chile,' Modi said.

The prime minister said the Chilean president's visit to India has created a 'new energy and enthusiasm' in the relations.

'This energy will give new momentum and direction to our bilateral relations as well as our cooperation in the entire Latin America region,' he said.