New Delhi [India], May 9 (ANI): India and Chile took a major step forward in strengthening their economic partnership by signing the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA).

The Ministry of Commerce & Industry said in a statement on Friday that this agreement marks a new chapter in trade relations between the two countries. The ToR was signed by Juan Angulo, Ambassador of Chile to India, and Vimal Anand, Joint Secretary in the Department of Commerce, who is also the Chief Negotiator for India-Chile CEPA from the Indian side. The signing of the ToR reflects the shared vision of both countries to deepen bilateral ties and promote economic cooperation.

The Ministry said, "India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) on 08 May 2025, marking a significant advancement in their bilateral trade relations".