India, Canada to fast-track talks on trade opening pact

Davos: India and Canada today decided to fast-track negotiations to sign a comprehensive agreement to liberalise not only trade in goods but also services and investment.

To boost bilateral commercial engagement, the two countries also decided to set up a joint CEOs’ forum comprising business leaders who would hold their first meeting in May or June in Canada.[caption id=“attachment_196232” align=“alignleft” width=“380” caption=“Commerce and Industry Minister Anand Sharma. Image courtesy PIB”]  [/caption]

The understanding was reached at a meeting between India’s Commerce and Industry Minister Anand Sharma and his Canadian counterpart Ed Fast on the sidelines of the World Economic Forum meeting in Davos.

“Both the ministers were committed to advise the negotiators who are meeting in February,” to speed up the talks on Comprehensive Economic Partnership Agreement (CEPA), an official said after the meeting.

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In the absence of progress on reaching any multilateral trade agreement, India has already signed such pacts with the Association of South-East Asian Nations, Japan and South Korea.

Negotiations are underway for similar trade arrangements with European Union and Australia.

PTI