Close X
Friday, November 29, 2024
ADVT 
National

Canada, India to relaunch CEPA trade talks: Ng

Darpan News Desk The Canadian Press, 11 Mar, 2022 01:24 PM
  • Canada, India to relaunch CEPA trade talks: Ng

International Trade Minister Mary Ng says Canada and India have agreed to resume long-standing efforts toward a comprehensive trade deal.

Following meetings in New Delhi with her Indian counterpart, Shri Piyush Goyal, Ng says the two countries will pursue an "early progress" agreement as an initial step.

She says that would provide a framework for the Comprehensive Economic Partnership Agreement, or CEPA, a bilateral deal the two countries have been talking about since 2008.

The goals include high-level commitments in goods and services, establishing rules of origin, eliminating technical barriers to trade and setting up a dispute settlement mechanism.

The government of Indian Prime Minister Narendra Modi has implemented a number of policy and structural changes in recent years that have helped open the door to international investment.

In a joint statement, the two countries say two-way trade has bounced back in a big way from the COVID-19 pandemic, reaching US$6.29 billion in 2021, 12 per cent higher than the previous year.

They hope to fortify trade and commercial ties in key areas, such as agricultural products, chemicals, automobiles, energy, electronics and minerals and metals.

Ng and Goyal also agreed to "intensified work" on recognizing how Canada approaches pest risk management in pulses, a major export that comprises a staple of the Indian diet.

Pulse crops like lentils and peas account for more than 95 per cent of Canadian agri-food exports to India, which in recent years has imposed tariffs on foreign imports and enforced pest control more stringently as it sought to boost domestic production.

Canada does not fumigate pulse exports to India and has long sought an exemption from rules that require crops to be fumigated before arriving in the country.

"Canada welcomed India's consideration to allow the import of pulses without penalty in case of fumigation on arrival by methyl bromide until finalization of a systems approach for Canadian pulses," the joint statement read.

Goldy Hyder, CEO of the Business Council of Canada, said news of renewed trade talks is a welcome development for the Canadian economy.

"Simply put, there is no path to a successful Indo-Pacific strategy without going through India – projected to soon become the world's most populous country with one of the fastest growing economies," Hyder said in a statement.

"Many of Canada's competitors are moving quickly to enhance trade ties, including in the near term, to ensure their businesses have a clear advantage in this critical market. With today’s announcement, Canada is well-positioned to be one of the first advanced economies to secure an agreement with India."

MORE National ARTICLES

One of Trudeau's kids tested positive for COVID-19

One of Trudeau's kids tested positive for COVID-19
Prime Minister Justin Trudeau says he's isolating because one of his kids tested positive for COVID-19. In an interview with The Canadian Press, he says he feels fine and has no symptoms.

One of Trudeau's kids tested positive for COVID-19

NACI now recommends boosters for some teens

NACI now recommends boosters for some teens
Chief public health officer Dr. Theresa Tam says kids and adolescents are still at low risk of serious illness in general from COVID-19 but because of the high rate of infection due to Omicron more kids are being admitted to hospital.

NACI now recommends boosters for some teens

Coquitlam Mounties investigate fatal stabbing

Coquitlam Mounties investigate fatal stabbing
They say in a release that the female victim was located Thursday around 4:30 p.m. in an underground parkade in the 1100-block of Austin Avenue. Police say she was rushed to hospital for treatment of stab wounds but was pronounced dead a short time later.

Coquitlam Mounties investigate fatal stabbing

Teck says weather, COVID-19 hitting results

Teck says weather, COVID-19 hitting results
Teck said steelmaking coal sales for the fourth quarter came in at 5.1 million tonnes, below the 5.2 million to 5.7 million tonnes in its revised guidance it issued Dec. 5 after the record rainfall in B.C. that knocked out rail and road infrastructure.

Teck says weather, COVID-19 hitting results

DARPAN 10 with Douglas Porter, Chief Economist, BMO Financial Group

DARPAN 10 with Douglas Porter, Chief Economist, BMO Financial Group
I have been an economist, working on Bay Street in Toronto, since the early 1980s. I now lead a team that provides analysis and forecasts on numerous economic and financial indicators, such as interest rates, economic growth, unemployment, housing, exchange rates, and, of course, inflation. 

DARPAN 10 with Douglas Porter, Chief Economist, BMO Financial Group

Postal workers can wear N95s — with a mask on top

Postal workers can wear N95s — with a mask on top
Some postal service employees doing tasks with a greater risk of catching COVID-19 — for example working in a pair to unload a van inside — are being given N95 masks, but a "fit test by a qualified professional" is required before they can be worn.

Postal workers can wear N95s — with a mask on top