Advancing the long-standing economic and investment relationship with India is a priority for Canada, as it “deepens key partnerships in the Indo-Pacific,” said Canadian Minister for International Trade Mary Ng. to Trade and Industry Minister Piyush Goyal in a virtual meeting on Tuesday. .
A reading of the conversation, published by Global Affairs Canada, the country’s foreign ministry, said the two countries “noted progress in negotiations on a Canada-India Trade Agreement (EPTA) while working towards a Comprehensive Economic Partnership Agreement (CEPA)”. .
Ng “expressed his appreciation for India’s openness to explore various trade issues and to advance the long-standing economic and investment relationship between Canada and India – a priority as Canada deepens its partnerships keys in the Indo-Pacific”.
As “Russia’s illegal invasion of Ukraine threatens the rules-based international order, it is more important than ever for democracies to strengthen their ties,” the statement said.
Ng also stressed the importance of advancing discussions on a Canada-India investment protection agreement, which would improve predictability and transparency for Canadian investors in India.
“Discussions were held on ways to further strengthen the bilateral trade relationship, explore new opportunities and attract more investment as the two sides work towards a mutually beneficial trade pact,” Goyal said in a statement. message on Twitter after the call.
The official relaunch of negotiations for a CEPA – as well as the Interim Compact Review Agreement, EPTA – was announced when Ng visited New Delhi in March and held a ministerial dialogue on trade and investment. with Goal. While EPTA will serve as a transition step to CEPA, the two countries have also agreed to intensify negotiations for a bilateral investment treaty.
Ng’s trip to India was the first visit by a Canadian minister since that of Prime Minister Justin Trudeau in February 2018.