India, Canada may ink mini-trade deal

India, Canada may ink mini-trade deal

• India and Canada may sign an interim free trade deal by this year, the precursor to a Comprehensive Economic Partnership Agreement (CEPA), officials said after commerce minister Piyush Goyal and his Canadian counterpart Mary Ng reviewed the progress of ongoing negotiations for a free trade agreement between the two countries a day before the CEOs roundtable, held in Toronto.
• India and Canada are negotiating a two-step FTA – first an interim deal covering goods, services, rules of origin, technical barriers to trade, and dispute settlement by this year; followed by the India-Canada CEPA to cover other bilateral issues of strategic importance, the officials added, requesting anonymity.
• According to the officials, the interim negotiation with Canada – also called the Early Progress Trade Agreement (EPTA) -- is “progressing fast” and the two countries may sign a deal in the second half of this year. EPTA may also cover areas such as small and medium enterprises and it will eventually take shape of a comprehensive FTA, they added. The seventh round of negotiations for EPTA was held in Ottawa last month.

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Published date : 15 May 2023 06:13PM