Modi and Carney Vow to Fast-Track India-Canada CEPA Deal
PM Modi and Canadian PM Mark Carney discuss strengthening bilateral ties, aiming to conclude CEPA negotiations and double two-way trade by 2030.
In a significant push to revitalize bilateral relations, Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney have reaffirmed their shared commitment to conclude the Comprehensive Economic Partnership Agreement (CEPA) negotiations at the earliest possible opportunity. The high-level discussion focused on a wide array of strategic sectors, including trade, defence, security, and artificial intelligence.
The leaders expressed a mutual desire to build upon the renewed momentum observed in India-Canada relations over the past year. A primary objective driving these negotiations is the ambitious goal to double two-way trade between the two nations by the year 2030.
Historic Trade Mission and Diplomatic Momentum
The conversation comes at a time of intense diplomatic activity. Canada's Minister of International Trade, Maninder Sidhu, is currently leading what has been described as a historic "Team Canada Trade Mission" to India. This mission features approximately 300 delegates, marking Canada's largest corporate delegation to visit the country in three decades.
The delegation is exploring joint venture opportunities across several critical industries, including:
- Aerospace and Technology
- Clean Energy and Forestry
- Life Sciences
- Agri-food
Adding to this momentum, Canadian Foreign Affairs Minister Anita Anand is scheduled to visit New Delhi this week to further advance shared priorities regarding energy, trade, and people-to-people connections.
Strategic Security and Geopolitical Stability
Beyond commerce, the two leaders delved into complex global issues. They discussed the growing impact of geopolitical instability on the Indo-Pacific region and emphasized the vital importance of finding trusted partners in the essential sectors of agriculture and energy.
The leaders also acknowledged the recent bilateral security dialogue held in India, which took place at the National Security Advisor level, signaling a strengthening of law enforcement and security cooperation. During the call, Prime Minister Carney also extended his thanks to PM Modi for his leadership regarding the peaceful resolution efforts concerning the war in Ukraine.
A Vision for Shared Prosperity
Prime Minister Modi, sharing insights from the conversation on social media, described the dialogue as "warm and productive." He noted that both nations are working toward concrete outcomes across their Strategic Partnership, which encompasses technology, security, and energy.
"Together, India and Canada are contributing towards a more stable and prosperous world," PM Modi stated.
On the economic front, India's Commerce and Industry Minister Piyush Goyal has been actively engaging with Canadian officials to ensure that the CEPA negotiations result in a balanced and mutually beneficial agreement. The goal is to unlock new investment opportunities and enhance market access, providing the necessary fuel for long-term economic partnership and shared prosperity.
The two Prime Ministers have agreed to maintain close contact as they prepare for PM Modi's upcoming visit to Canada, scheduled for December.