Canada Trade Mission Brings 300 Delegates, Secures $300 Million In Deals

NEW DELHI-Canadian Minister of International Trade Maninder Sidhu said the Team Canada Trade Mission to India concluded with more than 30 commercial partnerships between Canadian and Indian entities, valued at close to 300 million Canadian dollars, across sectors including aerospace, energy, clean technology and automobiles.

“It was very useful. If I have talked to all the delegates, you saw the partnerships being signed — over 30 commercial partnerships between Canadian and Indian entities, valued at close to $300 million, in different sectors — aerospace, energy, cleantech, autos, and so much more. And so, this is what these trade missions are all about: opening doors and making sure that partnerships are formed,” Sidhu said.

He said the mission built on the momentum generated by Indian Commerce Minister Piyush Goyal’s visit to Canada in May with the largest-ever delegation from India. Sidhu said he had promised Goyal he would return and was pleased to see concrete results from the visit.

Wrapping up the trade mission in Karnataka earlier on October 16, Sidhu said Canada had brought 300 business delegates from 150 organizations to India, making it the largest such mission in 30 years, since former Canadian Prime Minister Jean Chretien.

“From Mumbai to Bengaluru, we came to continue building on the incredible momentum our two countries have generated together over the last year. Momentum in trade and investment, momentum towards stronger economic ties, and momentum towards a more prosperous, secure future for both Canadians and Indians alike,” he said.

The trade mission comes as India and Canada make progress in negotiations for a Comprehensive Economic Partnership Agreement (CEPA).

Indian High Commissioner to Canada Dinesh K. Patnaik said earlier this week that both countries aim to conclude negotiations ahead of Prime Minister Narendra Modi’s proposed visit to Canada in December.

Patnaik said the fourth round of CEPA negotiations had concluded and discussions were advancing quickly, with confidence that the agreement could be finalized by November. This follows the commitment made by Modi and Canadian Prime Minister Mark Carney to conclude negotiations within a year of their launch.

A CEPA would reduce tariff and non-tariff barriers, address technical hurdles and facilitate compliance, while boosting investment flows and easing the movement of people, goods and capital, Patnaik said. (IANS)