New Delhi: The fifth round of talks to finalize the Comprehensive Economic Partnership Agreement (CEPA) between India and Canada is set to begin on Oct. 5, and the next 90 days could mark a major turning point in Canada-India relations, Union Commerce and Industry Minister Piyush Goyal said on Monday.
India and Canada are making efforts to finalize the Comprehensive Economic Partnership Agreement by the end of this year. The third round of bilateral talks to finalize the agreement was held in Ottawa, Canada, last July. Now, the fourth round of talks in Delhi concluded successfully on Friday (Sept. 18).
Speaking to reporters in Delhi on Monday, Union Commerce and Industry Minister Piyush Goyal said:
India and Canada have agreed to expedite negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA); the next round of talks is set to begin on October 5, following their agreement to conclude the deal by the end of this year.
Accordingly, the Indian delegation will participate in the fifth round of talks on October 5. This five-day negotiation may conclude on October 9. Goyal said the next 90 days could mark a major turning point in bilateral relations.
Canadian Trade Minister Maninder Sidhu had come to Mumbai last week to hold talks with Goyal. The talks are moving quickly, as both countries have set a target of concluding negotiations by the end of this year.
During these talks, he said that both countries had decided to speed up the negotiation process.
Speaking further about the sanctions on Russia and Iran, Piyush Goyal said that more details regarding this legislation are now emerging, and that India will examine them and discuss the matter at the appropriate time, he said.
In the past 2025-26 year, the value of bilateral trade fell by 8 percent from Rs. 83,000 crore to Rs. 76,000 crore. At present, the two countries have set a target of increasing bilateral trade to Rs. 67 lakh crore (70 billion dollars) by 2030.
India exports pharmaceuticals, iron, steel, seafood products, cotton, ready-made garments, electronic devices, chemicals, and more to Canada. India also exports other trade services to Canada, including telecommunications, computer, and information services.
India imports pulses, pearls, precious stones, coal, fertilizer, paper, and crude oil from Canada.
This agreement is expected to further strengthen economic and trade relations between the two countries.
