India, Canada launch trade and investment forum; target CEPA deal by year-end

India and Canada have launched a new trade and investment forum aimed at bringing together businesses from both countries and promoting greater commercial engagement, according to a joint statement issued on Friday.

The two countries also agreed to strengthen connectivity between India and Canada, including people-to-people ties, business mobility and direct commercial linkages, describing them as key enablers of increased trade and investment.

The statement was issued following the conclusion of Commerce and Industry Minister Piyush Goyal’s three-day official visit from May 25 to 27.

During the visit, Goyal held a series of meetings with business leaders and also held a bilateral meeting with Canada’s Minister of International Trade, Maninder Sidhu.

“The Ministers launched the Canada-India Trade and Investment Forum as a key platform that brings together Canadian and Indian business leaders and fosters new commercial partnerships and increased business engagement,” the statement said.

Both sides reiterated their commitment to advancing an ambitious and mutually beneficial Comprehensive Economic Partnership Agreement (CEPA) and reaffirmed their shared objective of concluding negotiations by the end of this year.

The proposed agreement is expected to expand market access, support resilient supply chains and enable two-way economic growth between the two countries.

Minister Sidhu also confirmed that Canada will lead a Team Canada Trade Mission to India later this year.