Commerce and Industry Minister Piyush Goyal recently held a meeting with David Eby, the Premier of British Columbia, emphasizing the need for continuous engagement to enhance relations between India and Canada. Goyal described the meeting as productive, with discussions centered on strengthening economic ties, promoting trade and investment cooperation, and exploring collaboration in various sectors such as minerals, manufacturing, energy, technology, education, defense, and innovation.
The minister highlighted the significance of ongoing engagement to unlock new opportunities and strengthen the bond between the two nations. Goyal is preparing to lead a high-level trade and investment delegation to Canada to further enhance commercial relations. The focus will be on initiating negotiations for the Comprehensive Economic Partnership Agreement (CEPA) with Canada.
India and Canada have agreed to conduct regular ministerial dialogues with the trade and investment communities in both countries early this year. British Columbia stands as India’s primary trading partner in Canada, with bilateral trade amounting to $2.1 billion in 2024, constituting a quarter of Canada’s exports to India. British Columbia boasts 12,000 tech firms and a rapidly growing life sciences sector.
Eby recently reported successful outcomes from a trade mission to Asia, including significant projects like LNG Phase 2, which is anticipated to receive a final investment decision this year. India is actively involved in negotiations for fair trade agreements with 14 countries or groups, encompassing nearly 50 nations, including the United States, the European Union, GCC countries, New Zealand, Israel, Eurasia, Canada, South Africa, and the Mercosur group.
