Key facts
- Canada is optimistic about concluding trade talks with India by year-end.
- Canadian Trade Minister Maninder Sidhu expressed optimism about reaching an agreement in the coming months.
- Indian trade negotiators are expected to visit Canada next month.
- Leaders from both countries may meet on the sidelines of the G-20 gathering in December.
- Discussions include cooperation in the energy sector, particularly liquefied natural gas and nuclear energy.
- Indian firms are exploring investments in Canadian critical mineral projects.
Canada is optimistic about concluding negotiations on a comprehensive economic partnership agreement (CEPA) with India by the end of the year, according to Canadian Trade Minister Maninder Sidhu. Sidhu stated during a visit to Mumbai on Saturday that he felt "very, very optimistic and energetic" about the possibility of finalizing the deal in the coming months.
Previously, Canadian Prime Minister Mark Carney had indicated in March during a trip to New Delhi that the two countries would aim to agree a free trade pact by year-end. Indian trade negotiators are expected to visit Canada next month, and leaders from both nations are likely to meet on the sidelines of the G-20 gathering in December, Sidhu said.
Key areas of discussion include the energy sector, with Canada looking to expand cooperation in liquefied natural gas (LNG) and nuclear energy. Sidhu noted that Canadian firms are having conversations with Indian companies regarding access to and investment in Canada's LNG export facilities, five of which are in various stages of development. He also sees significant potential for Canadian companies to assist in building up India's nuclear energy supply chain.