Taking initiative with Indian trade

Posted by Rumin Mann
March 16th, 2011

Last fall Canada and India began negotiations on the Comprehensive Economic Partnership Agreement (CEPA), commonly referred to as the Free Trade agreement.

The initiative is expected to facilitate the growth of bi-lateral trade between Canada and India from $4 billion to $15 billion in the next five years.

Covering substantially all trade-in goods and services, investment, trade facilitation and other areas of economic cooperation, this is a necessary first step in achieving the maximum potential for trade between the world’s largest democracies,one by size and natural resources,and the other bypopulation.Despite the potential,Canada only ranks as India’s 30th largest trading partner and India as Canada’s 16th largest trading partner.The projected trade volumes or the projected increase in number of Canadian companies in India,from 250 to 750, can only be achieved by a good understanding of India’s needs and challenges, Canada’s strengths, and a sustained multi-layered interaction.

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