India and Canada To Conclude Trade Talks

20 February 2012 - Which Way to Pay

India and Canada To Conclude Trade Talks

Canada and India are expected to complete discussions on a comprehensive economic partnership agreement in 2013. The countries held the fourth round of trade negotiations in Delhi and the latest round of talks is set to continue. Canada is keen to sell its energy products to the world, particularly to South East Asia and countries such as China and India.

Canada’s Minister of State, Bal Gosal stressed the importance of these trade talks saying small to medium sized enterprises in Canada will benefit from trade and investment ties with India. According to a Canada-India joint study, a trade agreement could boost Canada’s economy be at least CAD6bn.

Satish Thakkar, president of the Indo-Canada Chamber of Commerce (ICCC) said, “The successful conclusion of a comprehensive economic partnership agreement would lead to more opportunities for Canadian small to medium sized enterprises to enhance their engagement with India.”

Minister of International Trade and Minister for the Asia-Pacific Gateway Ed Fast, met with India’s Minister of Commerce and Industry, Anand Sharma, earlier this year. FAST SAID, “Minister Sharma and I have agreed to instruct our respective negotiations to redouble efforts on an ambitious schedule to complete negotiations on a Canada-India comprehensive economic partnership agreement in 2013. Toward that end, I am pleased to report that progress was made in the fourth around and that a fifth round is scheduled to take place in Ottawa in April. Increased trade and investment will create more jobs and increase prosperity for hardworking Canadians and Indians alike.”