India-Canada Ministerial Dialogue on Trade and Investment was held in New Delhi on 13th
The Indian Delegation was led by the Minister for Commerce and Industry, Shri Suresh Prabhu while the Canadian side was headed by the Minister for International Trade, Mr. Francois-Philippe Champagne.
The talks were held in a friendly and encouraging atmosphere covering a host of trade and investment issues.
Both sides recognized that the current bilateral trade is much below the potential between the two world's robust economies, despite the huge untapped potential for two-way trade and investment.
Both sides noted the progress made during the 10th
Round of the India-Canada Comprehensive Economic Partnership Agreement (CEPA) held in August, 2017 and expressed their strong commitment for taking forward negotiations for early conclusion.
India also highlighted the importance of Services Component under CEPA.
Both sides also noted the exchange of wish lists on the Services front and the Indian side reiterated that the architecture for Services under CEPA is a vital focus area and response from Canada on positive elements has to be mutually beneficial.
Both sides also took note of the progress made under the Foreign Investment Promotion and Protection Agreement (FIPA) and expressed their hope for an early conclusion.
Also, both sides deliberated on possible cooperation between the supporting agencies concerned, for mutual benefit as well as finding these agencies contributing directly or indirectly for promoting mutual trade interests.
The other issues such as early institutionalization of the CEO Forum mechanism, issue of extension of derogation of pulses, etc. were also discussed.