India Canada / Google
To take forward the ongoing talks between India and Canada to further bilateral trade and sign a trade treaty, India’s Minister for Commerce and Industry, Piyush Goyal, will visit Canada from May 25 to 27. His visit coincides with ongoing talks for a free trade agreement between India and Canada. Discussions will focus on expediting these negotiations. Both nations will explore cooperation in clean energy, nuclear energy, agriculture and critical minerals. The minister also met with U.K. and EU officials regarding trade pacts.
Both India and Canada have been keen to strengthen their bilateral relations in view of the changed trade and geopolitical scenario accentuated by the tariff trade war initiated by the United States. Upswings in international armed conflicts have been asserting unprecedented pressure, especially on growing economies, to cope with the rapidly changing trade winds.
Both India and Canada have been in talks for more than two decades to sign a free trade agreement. Though bilateral trade has witnessed a steep hike in the last two years, a diplomatic spat between the two longtime trade partners forced the countries to call off talks leading to the trade agreement.
After being snubbed by its elder brother, the U.S., Canada started looking elsewhere to boost its trade with other countries, especially in Southeast Asia, South America and Europe. A spurt in exchanges of visits, both ministerial and trade missions between the two countries, paved the way for the Indian commerce and trade minister, Piyush Goyal, to accept an invitation from Canadian International Minister Maninder Sidhu to visit Canada.
Maninder Sidhu was among the first few Canadian ministers, after Foreign Minister Anita Indira Anand, to visit India. He also met Piyush Goyal on the sidelines of other international trade summits, including one in Cameroon, where he again extended an invitation to Piyush Goyal to visit Canada.
The announcement of the visit of Piyush Goyal has created newfound confidence and enthusiasm among various Canadian trade, industry and commerce organizations.
The Canadian Hindu Chamber of Commerce was the first to send a delegation to India after Mark Carney took over as the new Liberal prime minister last year. Several other organizations, including the Indo-Canadian Chamber of Commerce and others, as well as Canadian universities and colleges, besides provinces like British Columbia, also sent their delegations to explore possibilities for investments and furthering trade.
The Canadian Hindu Chamber of Commerce named Hemant Shah as chairman of the Trade Development Committee. The Winnipeg wing of the chamber held a detailed meeting with Indian Consul General in Toronto Mahaveer Singhvi. Others who joined the meeting included Nirmal Thakar and Bhavesh Patel of the chamber. Discussions mainly focused on creating opportunities for both Canadian and Indian businesses in agriculture, civil aviation and other areas.
N. Thakar extended an invitation to Mahaveer Singhvi to visit and see the vibrant business community of Brandon.
Hemant Shah also organized a seminar on investment opportunities at GIFT City to help the grain sector and engineering services, besides promoting the civil aviation sector, including pilot training.
Mahaveer Singhvi also met a Winnipeg Civil Aviation Club delegation led by Hemant Shah.
Meanwhile, the Consulate General of India in Toronto will hold a community reception in honor of Piyush Goyal in Toronto to bring together distinguished members of the Indian diaspora, business leaders, professionals, academics and friends of India, and will provide an opportunity to celebrate and further strengthen the growing India-Canada partnership, particularly in the areas of trade, investment, innovation and people-to-people ties.
The event will be organized at Pearson Convention Centre on May 26.
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