BusinessWire India
New Delhi [India], August 29: The Forum of Indian Food Importers (FIFI) and Sociedad de Fomento Fabril (SOFOFA) have officially signed a Memorandum of Understanding (MOU), marking a significant milestone in the bilateral trade relationship between India and Chile. This pivotal event took place during the visit of Esteban Valenzuela, Minister of Agriculture for the Government of Chile, further cementing the strong ties between the two nations.
The MOU signing is set to enhance collaboration in the agricultural and food sectors, focusing on the exchange of best practices, technology, and high-quality products. Speaking to the media at the event, Mr. Amit Lohani, Founder and Director of FIFI, expressed his optimism about the strengthened partnership stating, "By forging this strategic partnership with SOFOFA, we are taking a significant step towards enhancing the availability of high-quality Chilean products in the Indian market. This collaboration not only strengthens our trade relations but also aligns with our shared goals of bilateral trade development."
This collaboration is expected to open new avenues for the exchange of agricultural products, knowledge, and technology between India and Chile, benefiting both countries' agricultural industries. "This is a commendable initiative. The Indian trade corridor between the two countries has been gaining significant momentum, creating defining opportunities. FIFI's Dry Fruit Committee is committed to further strengthening bilateral trade relationships between India and Chile, especially in the tree nut sector. In 2023/24, India imported 50,000 MT of walnuts, with a substantial 63% sourced from Chile alone. The committee is diligently working to increase this trade to over 80,000 MT in the coming years, further enhancing collaboration between our nations." said Raju Bhatia, Chairperson of Dry Fruit and Tree Nuts Committee of FIFI.
The bilateral trade between India and Chile is reportedly on the rise, gaining significant traction in various agricultural commodities. Commenting on this, Rakesh Banga, Founder and Director FIFI was quoted saying, "We are thrilled to see high-quality Chilean salmon and pork entering the Indian market. Although the volumes are currently small, we are confident that stronger relationships and growing demand from Indian consumers will lead to a substantial increase in trade volumes in the near future."
This historic event took place in the presence of several key Chilean associations, showcasing the broad support and commitment to enhancing agricultural trade between the two nations. Among those who witnessed the event were representatives from Chile Nut, Frutas de Chile, Consejo del Salmon, Amichile, Sociedad Nacional de Agricultura, BDP, Wines of Chile, the Chilean Embassy in India, and members of the Chilean media.
Speaking at the event, Minister Esteban Valenzuela expressed his optimism about the strengthened partnership, stating, "This MOU will not only boost trade but also pave the way for greater cooperation in agricultural practices, sustainability, and innovation. We are excited to work closely with our Indian counterparts to achieve mutual growth." The event concluded with a commitment from both sides to continue working together towards a prosperous and sustainable future in agriculture.
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