In a statement by the Commerce and Industry Ministry, India and Canada will revive negotiations for the Comprehensive Economic Partnership Agreement (CEPA) to maximize their full trade potential. The fifth Ministerial Dialogue on Trade and Investment was held between officials from the two nations.
The meeting was co-chaired by the commerce and industry minister of India, Piyush Goyal, and the minister of small business, export promotion, and international trade of Canada, Mary Ng. The meeting also covered bilateral trade and investment issues. Among other benefits, the Ministers said the agreement would expand bilateral trade in goods and services. The Canadian government has agreed to examine expeditiously the request for conformity verification body status to expedite Indian organic exports.
Both Ministers noted the importance of establishing resilient supply chains in critical sectors. Various sectors were discussed, including pharmaceuticals, rare earth minerals, tourism, urban infrastructure, and renewable energy. The two countries also noted the importance of strong people-to-people ties.