India-Canada Ministerial Dialogue on Trade & Investment - Moving Forward on the Canada-India Comprehensive Economic Partnership Agreement
Press Release – for immediate release.
March 11, 2022 – Toronto Ontario – The Canada-India Business Council
The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, is the first Canadian federal minister to visit India since 2018. The Canada-India Business Council is committed to promoting trade between Canada and India, and we are very happy to see Minister Ng prioritizing India and our bi-national relationship.
The Council was encouraged to see that Minister Ng and Minister Goyal spoke about re-launching negotiations on the Canada-India Comprehensive Economic Partnership Agreement (CEPA) and are considering an Early Progress Trade Agreement (EPTA).
India is a growing economic powerhouse with solid fundamentals that position the country for unparalleled opportunities over the next two decades. In the next five years, one-fifth of the world’s working-age population will be from India. Over the next 15 years, India’s five largest cities will have economies comparable in size to middle-income countries today. India is set to become the world’s third biggest economy within the next decade, with a larger population than the US and EU combined.
India and Canada share strong and longstanding economic and cultural ties, with Canada being home to one of the largest Indian diasporas in the world. Buttressed by the efforts of governments in both countries, the value of bilateral trade now stands at nearly C$8 billion, making India Canada’s 10th largest trading partner.
The Canada-India Business Council looks forward to being a part of continuing the important work on these trade deals. Victor Thomas, President & CEO of the Canada-India Business Council, said regarding the trip: “On this first high-level visit to India by a Canadian Minister since 2018, I had the privilege of meeting with Minister Ng and Minister Goyal. We had encouraging discussions surrounding the unique opportunity in India’s ever-growing potential - the booming economy and business development opportunities are unparalleled and pivotal for Canada’s future.”
Since 1982, the Canada-India Business Council has offered sustainable value to its stakeholders by being the premier bi-national hub in the Canada-India economic corridor. We offer members high-touch meaningful opportunities to convene with key leaders in industry, business, and government, ensuring Canada's connection to the world's fastest-growing large economy continues to be strengthened.
For further information or to arrange an interview with the President and CEO, Victor Thomas, accredited media outlets may contact Faith Jayakaran at +1-416-214-5947.
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