6 October 2009

Canada, India near new era of trade

This article is excerpted from the 6 October 2009 edition of “globendmail.com”.

India and Canada are moving to jolt stagnant trade ties, concluding a series of trade-related deals, including opening nuclear commerce and starting the first phase toward a free-trade agreement.

Prime Minister Stephen Harper will visit Mumbai and Delhi between Nov. 15 and 18 and meet with Indian Prime Minister Manmohan Singh, sources said, a visit that is intended as a turning point.

Although India is a fast-rising economic power, Canada is only its 26th-largest supplier of goods and services….

A long-awaited deal on investment, an agreement on energy exchanges, and an accord that allows Canada's nuclear industry to sell to India are expected within about month,… along with a green light to start the long process toward a broader free-trade agreement….

At least some of those agreements, like an accord for greater co-operation on energy exchanges, are expected to be signed during Mr. Harper's visit….