Context:- Sixth India- Canada Ministerial Dialogue on Trade and Investment (MDTI) held on 9th May in Ottawa.
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An overview of the news
- Union Minister of Commerce & Industry, Piyush Goyal along with Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Government of Canada co-chaired the discussions.
- The Ministers also reviewed the India-Canada CEPA (Comprehensive Economic Partnership Agreement) negotiations.
- In the last MDTI meeting in March 2022, the two ministers launched CEPA negotiations with the possibility of having an interim agreement or EPTA (Early Progress Trade Agreement). Since then seven rounds of talks have taken place.
- Goyal participated in various events to promote trade and investment in Toronto from 9 to 10 May 2023.
- Piyush Goyal inaugurated the India Pavilion at SIAL Canada-2023, the largest food innovation trade show in North America with participation of over 1000 national and international exhibitors from 50 countries.
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Topics of Dialogue
- Strengthening bilateral trade relations between India and Canada
- Investment Promotion and Cooperation
- Green transition – discussions on critical minerals and promotion of new areas of cooperation such as B2B engagement.
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About Canada
- Canada, the second largest country in the world in area (after Russia).
- Prime Minister – Justin Trudeau
- Capital – Ottawa
- Currency – Canadian dollar
- King of Canada (British Monarch) – Charles III
- Official Languages – English; French
Significance of India-Canada Comprehensive Economic Partnership Agreement (CEPA):
India-Canada Comprehensive trade agreement would help in expanding bilateral trade in goods and services through unlocking the potential across sectors.
India-Canada cooperation across sectors will help in harnessing the full potential of the trade and investment relationship between India and Canada.
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6th India- Canada Ministerial Dialogue on Trade and Investment, 6th India- Canada Ministerial Dialogue on Trade and Investment
