Two-day talks were held with India on a proposed free trade accord in the works to bolster trade and investment between the two nations on Wednesday.
The talks were with the Minister of Commerce and Industry Piyush Goyal and the Minister of International Trade, Maninder Sidhu, who leads a Canadian delegation on the visit.
Full of talks on the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA) and other economic matters, both sides emphasized expansion of dialogue and cooperation on economic ties.
The two countries spoke about how to proceed with the talks and shared ideas on enhancing their business relationship, Goyal said.
The Ministers also discussed the significance of defining a mutually agreeable balance and achieving a mutually beneficial agreement that gives both markets a meaningful access.
Through complementarities between the Indian and Canadian economies, and new opportunities for businesses, trade and investment, the proposed agreement is hoped to yield benefits.
Conducting a thorough economic partnership agreement may help increase the markets accessibility between the two countries and thereby boost the investment potential in various sectors.
The talks mark India’s and Canada’s renewed attempt to improve bilateral economic ties via greater trade ties. The bilateral negotiations are expected to go further as they seek to conclude an agreement to take into account the business and investors’ interests on both sides.
The envisioned CEPA continues to be a key element of steps towards enhancing two-way trade and promoting new avenues for enhancing economic cooperation between India and Canada.