India and Canada Accelerate Free Trade Negotiations, Says PM Mark Carney
'We’re working fast': PM Mark Carney on India, Canada negotiating a 'game changer' free trade deal
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Image: Zee News
Canadian Prime Minister Mark Carney announced renewed efforts to finalize a Comprehensive Economic Partnership Agreement (CEPA) with India, which could significantly enhance trade relations. The goal is to triple bilateral trade to $50 billion by 2030, with discussions focusing on sectors like energy, agriculture, technology, and education.
- 01PM Mark Carney described the CEPA as a potential 'game changer' for Canadian businesses and workers.
- 02Commerce Minister Piyush Goyal emphasized the meeting as a pivotal moment for India-Canada relations, aiming for a complete overhaul of the partnership.
- 03Both countries aim to finalize the free trade agreement within this year.
- 04Goyal's delegation included over 100 senior business leaders, marking India's largest business delegation to Canada.
- 05Trade talks between India and Canada have been ongoing since 2010, with negotiations previously suspended in 2023.
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India and Canada are revitalizing their trade negotiations, with Canadian Prime Minister Mark Carney highlighting the potential of a Comprehensive Economic Partnership Agreement (CEPA) to transform economic ties. During a meeting with Indian Commerce and Industry Minister Piyush Goyal, Carney stated that the agreement would unlock significant market access for Canadian workers and businesses. Goyal, who is leading a large business delegation to Canada, echoed Carney's sentiments, noting that the recent interactions have set a new trajectory for bilateral relations. The two nations are targeting a tripling of bilateral trade to $50 billion by 2030 and are keen to finalize the free trade agreement by the end of this year. The discussions cover multiple sectors, including energy, agri-food, technology, and education. The renewed momentum follows a period of strained relations, which improved after Carney's recent visit to India, where significant agreements were signed, including a $1.9 billion uranium supply deal for India's nuclear power generation.
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The CEPA could significantly enhance trade opportunities for Canadian businesses, particularly in energy and technology sectors.
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