NEW DELHI - India and Canada aim to seal an initial agreement this year to increase their trade and expand investment while setting out a mechanism to deal with disputes, they said in a statement on Wednesday (May 10). India's Commerce and Industry Minister Piyush Goyal met his Canadian counterpart, Mary Ng, in Ottawa on Monday, along with business leaders....
India's Commerce Minister Piyush Goyal takes part at the panel discussion "Trade: Now what?" during the World Economic Forum 2022 in the Alpine resort of Davos, Switzerland on May 25, 2022.NEW DELHI - India and Canada aim to seal an initial agreement this year to increase their trade and expand investment while setting out a mechanism to deal with disputes, they said in a statement on Wednesday .
India's Commerce and Industry Minister Piyush Goyal met his Canadian counterpart, Mary Ng, in Ottawa on Monday, along with business leaders. "The EPTA would cover, among others, high-level commitments in goods, services, investment, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement," they said in a joint statement, referring to their early progress trade agreement.The two countries last year relaunched negotiations on a comprehensive economic partnership agreement.
The proposed comprehensive trade pact could boost bilateral trade by up to US$6.5 billion , according to Indian government estimates.Bilateral commercial relations between the two countries are worth $100 billion, which includes $70 billion of Canadian portfolio investment in India, according to Indian figures.
Bilateral goods trade between Canada and India rose to $8.2 billion in 2022, up 25 per cent from a year earlier.
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