Prime Minister visits Brazil after concluding visit to Argentina, and Trinidad and Tobago | Current Affairs | Vision IAS
News Today Logo

Prime Minister visits Brazil after concluding visit to Argentina, and Trinidad and Tobago

Posted 07 Jul 2025

2 min read

The visit is the part of diplomatic tour covering Latin American and Caribbean (LAC) countries with a focus on boosting ties with the Global South.

  • Latin and Caribbean (LAC) region consists of mainly three regions i.e. South America, Central America and the Caribbean Region and comprises 45 countries.
A map showing Latin American Countries

India and LAC Region

  • Economic Ties: Total trade with LAC stood at USD 35.73 billion (with exports worth USD 14.50 billion) during 2023-24.
  • Trade Target: India targets US $ 100 billion bilateral trade by 2027-28.
  • Export-Import: LAC ranks 8th among India’s import sources while India ranks 9th among LAC’s exporting partners. 
    • Major Imports: Extractive and agricultural products like crude and petroleum products, pearls and precious stones, and vegetable oils. 
    • Major Exports: Manufactured commodities like motor vehicles, chemical products, mineral fuels etc. 
  • Trade Agreements: Preferential Trade Agreement with MERCOSUR, Comprehensive Economic Partnership Agreement with Chile, FTA negotiations with Peru etc.
  • Energy and Infrastructure: LAC is a supplier of critical minerals like gold, copper, and lithium.  
  • Regional Blocs: India has strong partnership with Regional Blocs such as Community of Latin American and Caribbean States (CELAC), Central American Integration System (SICA) and CARICOM (Caribbean Community).
  • Tags :
  • Caribbean
  • South America
  • Latin American and Caribbean (LAC) countries
  • Latin America
Watch News Today
Subscribe for Premium Features