1 day ago
India and Canada Push to Conclude Trade Pact
Canada and India are working on a large trade agreement called the CEPA.
Canadian Foreign Minister Anita Anand said she wants to meet India’s External Affairs Minister S Jaishankar this week.
They are expected to discuss how to finish the agreement.
Officials from both countries have already held several meetings about it.
India and Canada traded $30.8 billion worth of goods and services in 2024.
They want to increase that amount to $70 billion by 2030.
The agreement could make it easier for businesses to trade and invest in each other’s countries.
It could cover areas such as farming, energy, technology, and defence.
Canadian Foreign Minister Anita Anand said she expects to meet India’s External Affairs Minister S Jaishankar this week.
Anand said concluding the Comprehensive Economic Partnership Agreement before year-end is central to the bilateral strategy.
Indian and Canadian officials have held recent discussions on bilateral cooperation, Ukraine, and advancing trade negotiations.
India-Canada two-way trade totaled $30.8 billion in 2024, with a goal of reaching $70 billion by 2030.
The proposed CEPA could expand trade in goods, services, investment, agriculture, energy, critical minerals, technology, aerospace, and defence.
- Who
- Canadian Foreign Minister Anita Anand, India’s External Affairs Minister S Jaishankar, and trade ministers from India and Canada.
- What
- The countries are working to conclude a Comprehensive Economic Partnership Agreement and expand bilateral trade.
- Where
- During the United Nations high-level week; additional trade discussions were held between Indian and Canadian officials.
- When
- Anand said she expected to meet Jaishankar during the United Nations high-level week; officials said they aim to conclude the agreement before the end of the year.
- Why
- The agreement is intended to create new opportunities in trade, services, and investment and increase bilateral trade.
Key facts
- Agreement
- Comprehensive Economic Partnership Agreement (CEPA)
- 2024 bilateral trade
- $30.8 billion
- 2030 trade goal
- $70 billion
- Negotiation status
- Four rounds of trade negotiations have been completed, according to Canada’s Maninder Sidhu.
- Target timeline
- The countries aim to conclude CEPA before the end of the year.
- Potential sectors
- Agriculture and agri-food, energy, critical minerals, artificial intelligence and technology, aerospace, and defence.
Quotes
Maninder Sidhu
Canada’s Minister of International Trade
“I just finished round four of trade negotiations with my team in India. These negotiations require sustained, face-to-face cooperation, and I look forward to meeting with Minister Goyal again in the coming weeks as we continue to build momentum toward a CEPA agreement”
thehansindia.com
“The Canada-India bilateral relationship is growing and the conclusion of the CEPA before the end of the year is key to our overall strategy. I look forward to speaking with @DrSJaishankar this week during @UN high level week”
thehansindia.com
Sources
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