Canada negotiating trade pact with largest business delegation from India ever
Ottawa, May 25
Maninder Sidhu, Canada's Minister of International Trade, said India and Canada are working towards a deal in Canada with the largest business delegation ever from India in history.
During a joint statement by Piyush Goyal, Minister of Commerce and Industry and Maninder Sidhu, Sidhu warmly welcomed Minister Goyal, saying, "there's a lot of excitement to do more with India in terms of our economic partnership."
He said he is hearing from the business communities across the country, from Chambers of Commerce, and from their stakeholders.
He said Minister Goyal's visit is a very timely visit with the Comprehensive Economic Partnership Agreement (CEPA) and CAD 2.6 billion uranium deal in March.
"This is very important, it's going to be building on the meetings that we're having over the next 48 hours, we're going to be sitting down with our chief negotiators, two rounds have been done, we're going to be working together, a lot of WhatsApp diplomacy between us to conclude a deal this year," Sindhu noted.
He also announced that he will be taking a team, a Canadian trade mission, to India later this year to match the energy that Minister Goyal brought here to Canada.
Piyush Goyal said during the joint media address, "We had the visit of (Canada's) Prime Minister Mark Carney in India just a couple of months ago, and it was the first visit by a Canadian Prime Minister to India in eight years, but I think it completely changed the way Canada and India looked at each other."
It has in motion the pathway to a complete overhaul of the India-Canada relationship, setting new agendas, new goals, in mission mode, he noted, saying he can clearly see the speed and intent of both sides, which is phenomenal when it comes to working together for the shared prosperity of the people of India and Canada, providing business opportunities for both countries.
He highlighted that the Prime Ministers tasked them with completing the free trade agreement with a comprehensive outlook before the end of this year or earlier, but tripling our trade from the current USD 17 billion to USD 50 billion by 2030.
"Canada and India, two very consequential economies, two democracies, two sets of people who believe in the shared prosperity of not only our two countries, but our own contribution to global economies and global peace and security, is a relationship that's going to be very important in the years to come," noted Minister Goyal.
— IANS
Reader Comments
While I'm skeptical about trade deals usually, this one actually looks promising. India has a huge market and Canada has resources. But I hope our farmers' interests are protected - we can't just import everything and kill local agriculture.
It's wonderful to see this warm relationship reviving. After the tensions over Khalistani extremists in Canada, this diplomatic reset is much needed. But we must ensure Canada cracks down on anti-India elements operating from their soil. Trade should not come at cost of national security. 🤔
$50 billion target by 2030 is quite ambitious! But I think it's achievable if both sides show genuine commitment. India's tech talent plus Canada's natural resources can create a powerful synergy. The uranium deal is a game-changer for India's energy security.
Honestly, I'm cautiously optimistic. We've seen many trade agreements announced with much fanfare but implementation is always slow. The fact that both PMs have set a deadline is good, but we'll see how it goes. Also hope this doesn't become one-sided - India must also benefit in services and IT.
As someone who moved here for studies, I'm happy to see India-Canada ties improving. This will benefit thousands of Indian students and professionals in Canada. More trade means more bilateral opportunities for everyone! 😊
K