Union Minister Piyush Goyal to visit Canada in a bid to strengthen bilateral trade

Union Minister of Commerce Piyush Goyal is scheduled to travel to Ottawa, Canada for the sixth India-Canada Ministerial Dialogue on Trade and Investment (MDTI), where the minister will discuss key issues pertaining to trade with his Canadian counterpart, Mary Ng. The Ministry of Commerce said in a statement today that the two sides will hold talks to strengthen the bilateral trade relationship between India and Canada, promote investment and cooperation, and discuss green transition issues. The MDTI is a bilateral mechanism that provides an institutional framework for discussing a wide range of trade and investment-related issues and cooperation areas.

In what will be the eighth round of negotiations since the launch, the ministers will also review the India-Canada Comprehensive Economic Partnership Agreement (CEPA). Through these negotiations, the two sides would aim to reduce customs duties on goods traded between the countries, the Commerce Ministry said. India's major exports to Canada include medicines, chemicals, electrical and electronic equipment, plastic products, and petroleum oils, while Canada imports fertilisers, coal, aviation technology and equipment, diamonds, among others.

CEPA was launched in 2009 to promote bilateral trade and investment by eliminating or reducing tariffs on goods and services traded between the two countries. The agreement covers a wide range of sectors, including agriculture, manufacturing, services, and intellectual property.

Since its launch, the two sides have held several rounds of negotiations to review and expand the agreement.

Accompanied by a delegation of Indian CEOs led by FICCI, the Goyal will also visit Toronto on May 9-10 to promote trade and investment by meeting with CEOs of key Canadian companies.

He will conclude his visit by inaugurating the Indian Pavilion at SIAL CANADA-2023, the largest food innovation trade show in North America, which attracts over 1,000 national and international participants.

Notable attendees at the event will include delegations from the Trade Promotion Council of India (TPCI), Agricultural & Processed Food Products Export Development Authority (APEDA), India Trade Promotion Organisation (ITPO), and Associated Chambers of Commerce and Industry of India (ASSOCHAM). The event will also host a trade and investment promotion event for the agricultural and food processing sector with Indian companies and Canadian importers.