Canada and India Aim to Finalize Landmark Trade Agreement by Year’s End

Canada and India are set to finalize a Comprehensive Economic Partnership Agreement (CEPA) by the end of the year. The agreement aims to double the bilateral trade and strengthen ties in technology, defense, and more. This move comes as part of a larger strategy to boost economic cooperation internationally.

In a significant development, Canadian Prime Minister Mark Carney announced on Monday that Canada and India are on track to finalize a Comprehensive Economic Partnership Agreement (CEPA) by year's end. This ambitious move targets doubling bilateral trade by the decade's close, marking a pivotal moment in the two countries' economic relations.

Addressing the media alongside Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi, Carney emphasized the deepening economic ties between the nations. 'We're advancing toward a Canada-India Comprehensive Economic Partnership Agreement, with the aim to conclude by the end of this year,' he stated. The agreement seeks to reduce trade barriers and create more investment opportunities.

The partnership plans were further solidified after meetings between chief negotiators in New Delhi. Moreover, a landmark trilateral partnership with Australia was signed at the G20, focusing on AI and critical minerals. This comprehensive cooperation will also see expanded collaboration in space research, defense, and high-performance computing, reinforcing both nations' strategic interests.

(With inputs from agencies.)