Commerce and Industry Minister Nirmala Sitharaman is leading a high-level delegation at the 3rd India-Canada Annual Ministerial Dialogue today in Toronto, Canada.
Both India and Canada have realized that there is enormous scope for enhancing bilateral trade. Prime Minister Narendra Modi during his bilateral visit to Canada in April 2015, stressed on the importance of bilateral business and commercial linkages as key drivers of India-Canada partnership. During his visit, both nations recognised the need for early finalisation of the Foreign Investment Promotion and Protection Agreement (FIPA) and expeditiously conclude a progressive, balanced, and mutually beneficial Comprehensive Economic Partnership Agreement (CEPA), as a basis for expanding two-way trade and investment.
Considering the potential and given the fact that bilateral trade between both the countries has grown at a decent pace, the trade ministers of both countries (Sitharaman and Chrystia Freeland) are likely to discuss the following major issues:-
1.Exploring ways of expeditious early conclusion of FIFA and CEPA.
2.Exploring options for Indian interest in addressing the Temporary Foreign Workers Programmes (TWEP) of Canada which is affecting the Indian IT Industry; address equivalance by Canadian Food Inspection Agency for Indian organic product exports; and exploring investment opportunities in different sectors of India.
In addition, both leaders are expected to discuss regarding recent commercial achievements between both countries, bilateral FDI flows, issues relating to intellectual property, etc in addition to other issues relating to trade and investment.
Sitharaman is also scheduled to meet top business leaders of Canada on 30th September to discuss the various reforms undertaken in India and prospects for investment in various sectors.
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