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India, Canada agree to expedite finalisation of free trade pact

IANS  |  New Delhi 

and on Tuesday agreed to work towards an early conclusion of a proposed bilateral agreement, with highlighting the importance of services under such a deal, an official statement said.

The proposed Comprehensive Economic Partnership Agreement (CEPA) figured in the discussions between India's Commerce Minister Suresh Prabhu and Canadian Minister for International Trade Francois-Philippe Champagne at the 4th India-Ministerial Dialogue on trade and investment here, a Commerce Ministry statement said.

"Both sides noted the exchange of wish lists on the services front. reiterated that the architecture for services under the CEPA is a vital focus area and a response from on positive elements has to be mutually beneficial," it said.

"The Canadian side assured that they will look into the issues concerned, including movement of natural persons and what kind of provisions could be built into the CEPA," it said.

is keen to ensure easier movement of Indian skilled workers to for short-term work.

The negotiations for the agreement started in November 2010.

"The Ministers directed the chief negotiators to discuss and explore ways for early conclusion of the agreement," it added.

The statement said that and discussed the progress made under the Foreign Investment Promotion and Protection Agreement (FIPA) and expressed hope for its early conclusion.

They also said that bilateral trade was "much below" its untapped potential.

The bilateral merchandise trade in 2016-17 was worth $6.13 billion.

--IANS

bc/tsb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 00:00 IST
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