Canada and India Gear Up to Fast-Track Free Trade Agreement Talks

Canadian Prime Minister Mark Carney is set to visit India to expedite discussions on a Free Trade Agreement. The visit aims to bolster trade in sectors like technology and defense. Recent talks show optimism about finalizing the agreement, potentially enhancing the annual USD 30 billion trade relationship between both nations.

Canadian Prime Minister Mark Carney is scheduled to depart for India today, aiming to concentrate on pivotal discussions across trade, energy, technology, and defense sectors. Central to his visit is the advancement of negotiations for a Free Trade Agreement (FTA) with India, a crucial deliverable anticipated by year's end.

In an interview with CBC News, Canada's Minister of International Trade, Maninder Sidhu, pointed to past achievements, such as successful agreements with Indonesia, Ecuador, and the UAE, and noted Canada's unique access to EU defense procurement initiatives. Highlighting the importance of a potential FTA with India, Sidhu expressed hope for concluding talks this year.

Earlier discussions between Indian Union Minister of Commerce and Industry Piyush Goyal and Minister Sidhu underscored the importance of the India-Canada Comprehensive Economic Partnership Agreement (CEPA). Both nations have pledged to invigorate bilateral trade relationships, with Canadian optimism riding high on the back of more than USD 30 billion in annual trade, seeking to elevate it to USD 70 billion by 2030.

(With inputs from agencies.)