Canada, as a leading country in international trade, is seeking to finalize negotiations on the Comprehensive Economic Partnership Agreement (CEPA) with India by the end of this year. Maninder Sidhu, the Minister of International Trade of Canada, recently discussed the progress made in this regard during his visit to Mumbai.
Importance of the CEPA Agreement
The negotiations are taking place at a critical time, as both countries are looking to finalize this trade agreement by the end of the year. The aim of this agreement is to facilitate trade in goods, services, and investment, as well as to expand opportunities in various economic sectors.
In this context, the Minister of International Trade of Canada emphasized the commitment of both parties to expedite negotiations and finalize the CEPA as soon as possible in a statement on social media. He added, "This new agreement could create new opportunities in the trade of goods, services, and investment."
Trade Progress and Economic Goals
Sidhu also referred to trade statistics, stating that bilateral trade reached $30.4 billion in 2025. Canada aims to increase this figure to $70 billion by 2030, which would benefit Canadian workers and businesses.
He also highlighted the vast potentials in sectors such as aerospace, artificial intelligence, renewable energy, and essential minerals. Sidhu stated that in addition to trade negotiations, he intends to meet with Indian business leaders and investors to encourage them to invest and expand their operations in Canada.
Main goods exported from India to Canada include pharmaceuticals, iron and steel, seafood, cotton apparel, electronic items, and chemicals. On the other hand, major exports from Canada to India include pulses, pearls and semi-precious stones, coal, fertilizers, paper, and crude oil. Additionally, the services sector from India to Canada mainly includes telecommunications services, computer solutions, IT, and various business services.
Read more: Nikkei index of Japan rises following a decrease in oil prices · Pakistan Hockey Federation requests a change of venue for the Asia Championship
