India and Canada Show Optimism in Free Trade Agreement Negotiations
India, Canada officials express optimism over ongoing trade pact talks
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Officials from India and Canada expressed optimism regarding the ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) during the Western Canada-India Leaders Summit in Regina. Both sides aim to conclude talks by the end of the year, with a goal to increase bilateral trade from approximately $17 billion to $50 billion by 2030.
- 01Saskatchewan Premier Scott Moe emphasized the importance of the relationship between Saskatchewan and India during the summit.
- 02India's Commerce Minister Piyush Goyal expressed intentions to finalize the free trade agreement by the end of 2023.
- 03Canadian High Commissioner Chris Cooter expressed confidence that the free trade agreement will be reached this year.
- 04Trade negotiations had stalled in 2023 due to allegations against Indian agents related to the killing of Sikh separatist Hardeep Singh Nijjar.
- 05The summit also discussed the inclusion of pulse crops in future trade agreements, with Saskatchewan looking to navigate existing Indian tariffs.
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During the Western Canada-India Leaders Summit held in Regina, officials from Canada and India expressed optimism about ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA). Saskatchewan Premier Scott Moe, along with Canadian High Commissioner Chris Cooter and India's High Commissioner Dinesh Patnaik, discussed the significance of bilateral relations and the potential for a trade agreement. Cooter stated that he is confident a deal will be finalized later this year, echoing sentiments from India's Commerce Minister Piyush Goyal, who indicated that the aim is to conclude negotiations by year-end. Both countries are targeting an increase in bilateral trade from around $17 billion USD to $50 billion USD by 2030. The talks had previously stalled due to political tensions following allegations linking Indian agents to the murder of Hardeep Singh Nijjar in British Columbia. However, recent diplomatic engagements, including visits by leaders from both nations, have renewed focus on strengthening trade ties. Discussions at the summit also included agricultural trade, particularly regarding pulse crops, with Moe hopeful for their inclusion in future agreements, despite existing tariffs.
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The potential free trade agreement could significantly enhance trade relations, benefiting businesses in Saskatchewan and India.
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