New Delhi: India and Canada are looking at concluding the negotiations for a free trade agreement (FTA) by end of this year, Commerce and Industry Minister Piyush Goyal has said.
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Goyal is in Canada for a three-day official visit, starting May 25. “Our prime minister’s have tasked us not only with completing the free trade agreement with a comprehensive outlook before the end of this year or earlier and tripling our trade from a current USD 17 billion level to USD 50 billion by 2030,” he has said, while jointly addressing the media in Ottawa with Canada's Trade Minister Maninder Sidhu on May 25.
Goyal also called on Canada’s Prime Minister of Canada mark Carney.
In a social media post, Carney said: “We’re negotiating a free trade deal with India. This will be a game changer for Canadian workers and businesses — unlocking a massive new market. We’re working fast — I met Minister @PiyushGoyal to review our progress so far and explore the opportunities ahead for both our countries in energy, agri-food, tech, and education”.
The two countries are negotiating a Comprehensive Economic Partnership Agreement (CEPA). Two rounds of negotiations have been completed.
The third round is going on in Ottawa from May 25 to 29.
Key exports from India to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals, among others.
Imports include pulses, pearls and semi-precious stones, coal, fertiliser, paper and petroleum crude.
India's main services sector exports include telecommunications, computer and information services, and other business services.
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Canada is also home to over 4,25,000 Indian students and a strong Indian community. Joint Secretary in the Department of Commerce, Brij Mohan Mishra, is the chief negotiator from the Indian side. Bruce Christie is Canada's chief negotiator.
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