India and Canada are advancing negotiations for a Comprehensive Economic Partnership Agreement (CEPA). Commerce Minister Piyush Goyal and his Canadian counterpart Maninder Sidhu discussed a balanced agreement to enhance market access and bilateral trade.
India and Canada have discussed advancing negotiations for a Comprehensive Economic Partnership Agreement (CEPA), with a focus on ensuring balanced market access and creating fresh opportunities for trade and investment, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.
Advancing India-Canada CEPA
In a post on X, Goyal said he held a “productive discussion” with Canada's Minister of International Trade Maninder Sidhu on taking forward the proposed trade agreement and strengthening bilateral economic ties. “Discussed advancing the India-Canada Comprehensive Economic Partnership Agreement (CEPA) negotiations, with a focus on a balanced, mutually beneficial agreement that enhances market access & unlocks new trade and investment opportunities,” Goyal said.
He expressed confidence that the proposed agreement would provide fresh momentum to bilateral trade and deepen the economic partnership between the two countries.
Balanced Terms and Market Access Central to Talks
The discussions come as both sides seek to move forward with negotiations on a trade pact aimed at improving market access and expanding opportunities for businesses in India and Canada. A comprehensive economic partnership agreement generally covers a broad range of trade and economic issues. However, Goyal's post did not specify the issues discussed during the meeting, the progress made in negotiations or a timeline for concluding the agreement. The minister also did not disclose details of any specific sectors or market-access provisions discussed with Sidhu.
Goyal's statement highlighted the importance of securing an agreement that benefits both countries, suggesting that balanced terms and greater access to each other's markets remain central to the ongoing discussions.
If concluded, the CEPA is expected by the two sides to create opportunities for businesses to expand trade and investment, while strengthening the broader economic relationship between India and Canada. Goyal reiterated confidence that the proposed agreement could support shared economic growth and prosperity. (ANI)
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