India-Chile Economic Ties: Sitharaman Urges CAF Financing Support

India's Finance Minister Nirmala Sitharaman has stressed the need to expand economic cooperation with Chile, following a meeting with former Chilean President Eduardo Frei and delegations from Chile and the Latin America and Caribbean development bank, CAF. The meeting took place in New Delhi and focused on boosting bilateral trade.

The finance ministry shared details of the discussions through a social media post. It said the talks explored new opportunities for both countries to work together more closely across key sectors.

Sitharaman also voiced concern about the recent floods affecting Chile. Her remarks came during her conversation with Frei and signalled India's sympathy with the country.

A major theme of the meeting was the timely completion of the India-Chile Comprehensive Economic Partnership Agreement, commonly called CEPA. Participants also discussed other forms of cooperation with CAF.

Building on CAF's existing work with the Confederation of Indian Industry and the Export-Import Bank of India, the minister encouraged the institution to identify financing options for projects in which Indian companies are involved. She pointed to critical minerals and renewable energy as areas of particular focus.

On the previous day, Sitharaman had met Scotland's First Minister John Swinney in New Delhi. The ministry said the two leaders discussed shared interests, including financial services, renewable energy, the establishment of higher education institutions, and promoting bilateral tourism. Their talks also covered ways to strengthen cooperation in these areas.