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Canada’s Indo-Pacific strategy paper calls for early trade pact with India.
Nov 29, 2022

India and its strategic importance found a special mention as Canada launched its Indo-Pacific strategy with an aim to balance China.
 
India’s strategic importance and leadership—both across the region and globally—will only increase as India—the world’s biggest democracy—becomes the most populous country in the world and continues to grow its economy, the strategy paper pointed out.
 
“India’s growing strategic, economic and demographic importance in the Indo-Pacific makes it a critical partner in Canada’s pursuit of its objectives under this strategy. Canada and India have a shared tradition of democracy and pluralism, a common commitment to a rules-based international system and multilateralism, mutual interest in expanding our commercial relationship and extensive and growing people-to-people connections,” according to the strategy paper released by the Canadian Foreign Minister.
 
In its engagement with India, Canada will grow economic ties, including through deeper trade and investment, as well as cooperate on building resilient supply chains. Ottawa will further seek to expand market access by concluding an Early Progress Trade Agreement (EPTA) as a step toward a Comprehensive Economic Partnership Agreement, the strategy paper hoped.
 
The strategy paper also announced to create a Canada-India desk within the Trade Commissioner Service to promote implementation of the EPTA for businesses and investors looking to enter the Indian market, or for those partnering with Indian businesses.
 
It further announced to invest in and connect people, including by bolstering Canada’s visa-processing capacity in New Delhi and Chandigarh and support academic, educational, cultural, youth and research exchange.
 
The paper also suggested to accelerate cooperation in the fight against climate change, in protecting the environment and in deploying green technologies and send enhanced Team Canada trade missions in priority sectors of mutual interest, such as renewable energy and clean technology.
    
economictimes.indiatimes.com

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