Canada and India are signaling renewed momentum in bilateral trade negotiations, with both countries expressing interest in advancing a long-awaited free trade agreement aimed at expanding economic cooperation and increasing trade volumes.
Canadian Prime Minister Mark Carney recently met with Indian Commerce and Industry Minister Piyush Goyal to review progress on the proposed Comprehensive Economic Partnership Agreement (CEPA), which has been under discussion since 2010.
Following the meeting, Carney said both countries are working to advance opportunities across key sectors including energy, agri-food, technology, and education. He described the proposed agreement as a significant opportunity for businesses and workers by expanding access to new markets.
Goyal’s visit to Canada was accompanied by more than 100 senior business representatives from India’s mining, energy, automotive, and aerospace industries, making it one of the largest Indian business delegations to visit the country.
Officials from both sides highlighted growing optimism surrounding the relationship and expressed support for strengthening economic ties. Goyal noted that recent high-level engagements have helped create new momentum for cooperation and set the stage for broader commercial partnerships.
The two countries are aiming to significantly increase bilateral trade, with discussions focused on reaching a free trade agreement and expanding trade volumes to approximately $50 billion by 2030.
Recent diplomatic engagement has also contributed to improving relations. Earlier this year, Carney met with Indian Prime Minister Narendra Modi during a visit to India, where both sides discussed economic cooperation and signed several agreements, including a major uranium supply arrangement to support India’s nuclear energy sector.
Trade discussions remain active, with delegations from both countries continuing negotiations. A Canadian delegation recently visited New Delhi for trade talks, while additional Indian representatives are expected to travel to Canada later this year to continue discussions on market access, investment, and economic cooperation.
The renewed engagement reflects efforts by both governments to strengthen trade partnerships, support business growth, and create new opportunities across strategic industries.
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