NEW DELHI / OTTAWA: In a major push to deepen bilateral economic ties, Union Minister of Commerce & Industry Piyush Goyal and Canadian Minister of International Trade, Export Promotion, Small Business and Economic Development, Hon. Mary Ng (Minister Sidhu), co-chaired a high-level bilateral meeting. Both nations reaffirmed their shared commitment to strengthening trade, increasing investment, and creating new commercial opportunities for businesses in both countries.
To mark this engagement, Minister Sidhu welcomed Minister Goyal and the largest Indian delegation ever sent anywhere in the world.
Strategic Milestones and Trade Agreements
The bilateral talks yielded critical progress on long-standing trade negotiations and institutional frameworks:
-
CEPA Timeline Fast-Tracked: Both Ministers reiterated their commitment to advancing an ambitious, mutually beneficial Comprehensive Economic Partnership Agreement (CEPA). They officially affirmed a shared objective to conclude CEPA negotiations by the end of this year.
-
Supply Chain Resilience: The leadership underscored that CEPA will play a pivotal role in expanding market access, supporting resilient global supply chains, and driving two-way economic growth.
-
Launch of the Trade Forum: The Ministers officially launched the Canada-India Trade and Investment Forum. This institutional platform is designed to bring together Canadian and Indian business leaders to foster new commercial partnerships and increase corporate engagement.
Priority Sectors for Deepened Cooperation
The discussions highlighted the immense potential for collaboration across several complementary, high-growth sectors:
-
Clean Energy & Critical Minerals: Deepening supply ties and technological cooperation to secure green transition paths.
-
Agri-Food & Advanced Manufacturing: Streamlining food security trade and modern industrial manufacturing integration.
-
Digital Technologies & Skills Development: Expanding technical cross-border innovation and workforce skill-building.
Enhancing Mobility and Future Trade Missions
Recognizing that economic growth relies heavily on structural and social connectivity, the joint statement emphasized the following future steps:
-
Team Canada Trade Mission: Minister Sidhu confirmed that Canada will lead an official Team Canada Trade Mission to India later this year. This reflects the surging interest of Canadian corporations looking to expand their footprint in the Indian market.
-
Connectivity and Business Mobility: The Ministers emphasized the critical importance of enhancing people-to-people ties, improving business mobility, and expanding direct commercial linkages to enable seamless trade.
-
Long-Term Investment Capital: Both nations agreed to continuously encourage long-term, high-quality institutional investments in priority sectors, backing deeper collaboration among innovators, businesses, and institutional partners.
The ministerial leadership concluded the forum by committing to a sustained, regular dialogue to ensure concrete economic outcomes are met in the months ahead.
