Canada seeks preferential market access in India as CEPA talks advance
New Delhi: As India and Canada intensify negotiations for a Comprehensive Economic Partnership Agreement (CEPA), the office of Canadian Minister of International Trade has stated that the pact is intended to provide preferential market access for Canadian goods and services in India, the world’s fifth-largest economy.
In response to queries from The Indian Express, the office of Canadian Minister Maninder Sidhu emphasised that the agreement aims to enhance transparency and predictability in bilateral trade relations. The statement also highlighted the potential for supporting more resilient supply chains and broader global stability.
The third round of CEPA talks took place in Ottawa from July 6 to 10, with negotiators from both sides working to finalise the agreement by the end of this year. The negotiations are seen as a significant step in rebuilding ties between India and Canada, which have faced diplomatic strains in recent years.
The CEPA is expected to cover trade in goods and services, investment, and other areas of economic cooperation. Both countries view the agreement as a means to boost bilateral trade, which currently stands at around $8 billion annually.
