Khurshid to visit Chile, Argentina

External Affairs Minister Salman Khurshid will embark on a four-day visit to Chile and Argentina from Tuesday to strengthen bilateral trade ties with Latin America, with which India has kept a trade target of $ 50 billion by the end of next year.

Khurshid’s visit is aimed at “strengthening and deepening relations with Latin America and Caribbean,” according to officials. “Our trade investments with the region are estimated to have crossed $ 30 billion in 2012 and cumulative investments in the region is estimated to be $ 16 billion,” they said.

During his visit to Chile from February 5 to 7, Khurshid will be meeting his counterpart Alfredo Moreno Charme. Chile is the only country in the region with which India has a preferential trade agreement (PTA). Trade between the two countries is over $ 2 billion.

On his second leg of the visit, the minister will travel to Argentina, an important partner in India’s long-term food security strategy, they said. In Argentina, Khurshid will meet Foreign Minister Hector Timerman and is also expected to call on the senior leadership there.

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