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India, Canada to relaunch trade pact talks along with investment agreement
“The interim agreement would include high level commitments in goods, services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement,” the commerce and industry ministry said in a statement after India and Canada held the fifth Ministerial Dialogue on Trade & Investment (MDTI).
India and Canada will relaunch the negotiations for a Comprehensive Economic Partnership Agreement (CEPA) and also consider an interim agreement or Early Progress Trade Agreement (EPTA) that could bring early commercial gains to both the countries, the government said on Friday.
They also agreed to promote and protect bilateral investment, including through the intensification of negotiations toward a Bilateral Investment Agreement, alongside the CEPA.
“The interim agreement would include high level commitments in goods, services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement,” the commerce and industry ministry said in a statement after India and Canada held the fifth Ministerial Dialogue on Trade & Investment (MDTI).
Commerce and industry minister Piyush Goyal and Canada’s Minister of Small Business, Export Promotion and International Trade, Mary Ng, co-chaired the MDTI.
Bilateral trade in goods reached $6.29 billion in 2021, up 12% as compared to the previous year.
“They reaffirmed their commitment to strengthen trade and commercial ties through enhanced partnerships and cooperation in identified areas such as agro-products, chemicals, footwear, textiles, automobiles, energy, electronics, minerals and metals, urban development, information technology and tourism,” the joint statement issued at the conclusion of the MDTI read.
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