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In an address at an event, he said New Delhi’s overall ties with the region have moved on a ”new trajectory” in the last nine years and there was scope to further consolidate the relations in a range of areas.
”We must ensure that distance is no longer an impediment for stronger ties,” he said.
Jaishankar said bilateral trade has surged close to USD 50 billion during the financial year 2022-23 and it is a testament to both the strength and potential to our economic partnership”.
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The external affairs minister was speaking at the ninth CII India-LAC Conclave on the theme ‘Furthering Economic Partnerships for Shared and Sustained Growth’.
”It is important we really step on the accelerator out here,” Jaishankar said, noting that there is huge scope to further enhance trade and economic engagement.
About trade, he put the investment by Indian companies in the LAC region at a ballpark figure of USD 15 billion.
The external affairs minister, while highlighting India’s impressive economic growth, hoped that Indian products and services would help to meet the ”expectations, aspirations and price points” of the rising middle class in the Latin American and Caribbean region.
He said there is scope to expand cooperation in areas of agriculture, ensuring reliability of supply chain diversification and resource partnership among others.