India and Canada recently decided to revamp and relaunch the Canada-India CEO Forum with a new focus and set of priorities, and in October of this year, a Team Canada trade mission will visit India under the leadership of Mary Ng, minister of international trade, export promotion, small business, and economic development.
The decision was made on May 8 in Ottawa, Canada, during the sixth India-Canada Ministerial Dialogue on Trade and Investment (MDTI), which was co-chaired by Indian Minister of Commerce and Industry Piyush Goyal and Ng.According to a press release, the ministers talked on the best ways to discuss talent and innovation partnerships in order to build the bilateral innovation ecosystem.
They placed a strong emphasis on fostering cooperation in fields including clean technology for the development of infrastructure, essential minerals, electric cars and batteries, renewable energy/hydrogen, and artificial intelligence.
Ngvoiced her support for India’s role as G20 chair and the objectives that India has set for itself in the group’s working group on trade and investment. In August of this year, India will host the G-20 Trade and Investment Ministerial Summit.
They reiterated that the early progress trade agreement (EPTA) would cover high-level commitments in goods, services, investment, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement while reviewing the results of seven rounds of negotiations for a planned bilateral free trade agreement.
A 25% increase over 2021 saw bilateral commerce in products between India and Canada reach $8.2 billion in 2022.
