Canada and India Accelerate Trade Agreement Talks Aiming for Year-End Deal

Ottawa, October 14 (Daily Kiran) : After the fifth round of talks in Ottawa, Canada and India are ramping up negotiations for a comprehensive trade agreement. Both nations are reviewing progress with the goal of finalizing a deal by the end of the year.

In a statement released on Tuesday, Global Affairs Canada announced that International Trade Minister Mary Ng met with India’s Commerce and Industry Minister Piyush Goyal in New Delhi this week. This meeting took place during the Team Canada trade mission, which has brought a large Canadian delegation to explore investment opportunities and commercial partnerships in Mumbai and Bengaluru.

According to the Canadian government, the ministers discussed ongoing negotiations for the Comprehensive Economic Partnership Agreement (CEPA). This dialogue aims to build on the discussions held during the fifth round of talks from October 5 to 9 in Ottawa.

Global Affairs Canada stated that both countries are intensifying efforts to finalize a mutually beneficial agreement. However, the statement did not mention any existing differences between the negotiating teams or announce a date for the next round of discussions.

This latest ministerial meeting marked the ninth encounter between Ng and Goyal since May 2025. Renewed efforts are underway following discussions between the two ministers at the G20 trade ministers’ meeting in Milwaukee earlier this month.

Ng expressed gratitude to Goyal for supporting the Canadian trade mission, which runs from October 12 to 17 and includes nearly 300 representatives. This marks Canada’s largest trade delegation to India in over three decades.

Canadian companies are seeking opportunities in various sectors, including energy, critical minerals, aerospace, artificial intelligence, and advanced manufacturing.

Ottawa noted that this commercial agreement supports Canada’s Indo-Pacific strategy and aims to significantly boost exports outside the United States. The Canadian government has set a target to increase annual bilateral trade with India to $70 billion by 2030.

This figure is more than double the $30.4 billion in goods and services traded between the two countries in 2025. Canada views India as a crucial market for diversifying its international trade relations, especially as Ottawa seeks to reduce its heavy reliance on the U.S.

For India, a comprehensive agreement could enhance access to Canadian markets and strengthen cooperation in energy, minerals, technology, and other strategic areas.

Prior to the fifth round in Ottawa, four rounds were held to address differences and develop a framework for a mutually beneficial agreement. These recent talks are part of broader diplomatic efforts to improve relations between New Delhi and Ottawa, following a period of long-standing tensions.

Economic cooperation has emerged as a key element in this initiative, with both governments aiming to enhance trade relations alongside discussions on security and law enforcement.

In 2025, Canada exported $3.9 billion worth of goods to India, primarily vegetables, mineral fuels, and wood pulp. Imports from India reached $9.7 billion, with significant categories including precious stones and metals, machinery, and medicinal products.