India, Canada agree for early conclusion of proposed FTA

Posted by Daily Shipping Times on 17-11-2017        Tweet

NEW DELHI : India and Canada agreed to work towards an early conclusion of a proposed bilateral free trade agreement, with New Delhi highlighting the importance of services under such a deal, an official statement said.

The proposed Comprehensive Economic Partnership Agreement (CEPA) figured in the discussions between India's Commerce Minister Suresh Prabhu and Canadian Minister for International Trade Francois-Philippe Champagne at the 4th India-Canada Ministerial Dialogue on trade and investment here, a Commerce Ministry statement said.

"The Ministers directed the chief negotiators to discuss and explore ways for early conclusion of the agreement," it added.

The statement said that India and Canada discussed the progress made under the Foreign Investment Promotion and Protection Agreement (FIPA) and expressed hope for its early conclusion. They also said that bilateral trade was "much below" its untapped potential. The bilateral merchandise trade in 2016-17 was worth $6.13 billion.