Canada eyes stronger trade, stable energy partnership with India: EDC

Canada positions itself as a stable partner for India's critical mineral and energy needs, an EDC official said. With PM Mark Carney's visit, both nations aim to boost bilateral trade and conclude a Free Trade Agreement to smoothen commerce.

Canada sees itself as a stable and consistent partner in supplying critical minerals and energy resources to India, as both countries work towards strengthening bilateral trade and economic cooperation, an official from Export Development Canada (EDC) said.

Speaking on Canadian Prime Minister Mark Carney's ongoing visit to India, Tushar Handeikar, Vice President and Global Head at Export Development Canada (EDC), expressed optimism about further strengthening trade ties between the two nations. "We expect from an EDC standpoint the continuation of our bilateral efforts from a trade perspective. There is already a lot of trade happening between Canada and India. What we expect through this visit of our Prime Minister to India would be to further grow that trade and also smoothen the flow of the trade in terms of clearing up any of the requirements to freely trade between the countries. Free Trade Agreement is something that over time we expect to happen and have a bilateral kind of an agreement that further intensifies the ability to have a smoother trade between the two countries," he said.

Canada as a Stable Resource Partner

Highlighting Canada's role in the critical mineral supply chain, Handeikar said Canada has abundant resources and can serve as a reliable partner for India's growing needs. "So, I mean, that is a continuous journey of supplying minerals. So Canada has a vast resource of minerals, both on minerals as well as energy needs on oil and gas. So both can be, Canada can be seen as a more stable partner and a more consistent partner in supplying to India those essential minerals and energy needs that India needs for its growing demand as well as growing population," he added.

PM Carney's Visit to India

Canadian Prime Minister Mark Carney will be on India visit from February 27 to March 2, 2026. This visit marks the first stop of his three-nation Indo-Pacific tour, which also includes Australia and Japan.

Push for Free Trade Agreement

Earlier, in an interview with CBC News, Canada's Minister of International Trade Maninder Sidhu expressed hope in the possibility of conclusing the FTA by the end of the year. "Over the last nine months we were very successful in completing Indonesia Ecuador UAE and getting access to EU defence procurement initiatives hundreds of billions of dollars of export opportunities. We're the only non-EU country to get part of that deal. Again coming back to India you know back in November both leaders had met at the G20 Prime Minister Carney and Prime Minister Modi to signal that we both want an FTA with each other and so this trip is about our first round launching negotiations and so hopefully concluding this year an FTA. We both know that FTAs-- free trade agreements--will unlock opportunities it presents stability, reliability for businesses, it sends a signal to them and you've just looking at the facts free trade leads to more opportunities more trade and more jobs for workers," he said.

Trade negotiations between India and Canada, which began in 2010, have stalled multiple times due to various issues. However, efforts to revive the agreement gained momentum in November when Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney agreed to formally relaunch talks on the Comprehensive Economic Partnership Agreement (CEPA). The proposed agreement is expected to cover a wide range of sectors, including trade in goods and services, investments, agriculture, and digital commerce.

On the sidelines of the G20 Summit in Johannesburg, Prime Minister Narendra Modi and Prime Minister Mark Carney agreed to begin negotiations on a high-ambition Comprehensive Economic Partnership Agreement aimed at doubling bilateral trade to USD 50 billion by 2030, according to a statement from the Ministry of External Affairs. (ANI)

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