March 11, 2022 – TORONTO, ON – The Asia Pacific Foundation of Canada (APF Canada) is applauding the Government of Canada’s renewed efforts to expand and formalize trade and investment ties with India, Canada’s 13th largest merchandise trade partner, with bilateral merchandise trade valued at C$8.9 billion in 2021.
The Hon. Mary Ng, Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, met with Indian Minister of Commerce and Industry, Consumer Affairs and Food, and Public Distribution and Textiles, Shri Piyush Goyal in New Delhi on March 11, 2022, for the fifth Ministerial Dialogue on Trade & Investment. In a joint statement, the Ministers resolved to re-launch negotiations on the Canada-India Comprehensive Economic Partnership Agreement (CEPA) and consider an Early Progress Trade Agreement (EPTA) that could be concluded early as a transitional step towards the CEPA.
APF Canada, which led the successful First Canadian Women-only Virtual Business Mission to India on March 7-8, 2022, with the participation of Minister Ng, who highlighted the importance of helping women entrepreneurs engage in growth markets like India, is pleased to see a recovery of momentum in building on the complementarities of the Canada-India relationship and strengthening our ties to this growing and dynamic economy.
“As we come out of the global economic contraction as a result of the COVID-19 pandemic, it will be essential that Canada leverage its existing relationships in the Indo-Pacific to ensure our future economic prosperity,” said APF Canada President and CEO Jeff Nankivell. “Canada and India already share strong and longstanding economic and cultural ties. Today’s announcement that the Government of Canada is re-launching Canada-India CEPA negotiations initiated 12 years ago is welcome and timely news. APF Canada is supportive of further effort to solidify economic and trade ties with this growing economic powerhouse.”
Added APF Canada Vice-President, Toronto Office, and India Mission Director Christine Nakamura: “Our First Canadian Women-only Virtual Business Mission to India earlier this week demonstrated the willingness and readiness of Canadian women entrepreneurs to connect with their counterparts in India’s innovation ecosystem. I am encouraged to see the Government of Canada taking further steps today to build on the complementarities of the Canada-India relationship and strengthen our bilateral ties and economic partnerships through the CEPA and a precursor EPTA supporting inclusive and sustainable economic recovery.”
Michael Roberts, Communications Director,
Asia Pacific Foundation of Canada
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