"We both want an FTA, hope to conclude negotiations this year," says Canada Trade Minister ahead of India visit

Toronto [Canada], February 26 (ANI): Canadian Prime Minister Mark Carney will leave for India later tonight. The focus during his visit will be on businesses across trade, energy, technology, and defence. One of the key deliverables will be advancing negotiations on a Free Trade Agreement (FTA) with Indian.
In an interview with CBC News, Canada's Minister of International Trade Maninder Sidhu expressed hope in the possibility of conclusing the FTA by the end of the year.
"Over the last nine months we were very successful in completing Indonesia Ecuador UAE and getting access to EU defence procurement initiatives hundreds of billions of dollars of export opportunities. We're the only non-EU country to get part of that deal. Again coming back to India you know back in November both leaders had met at the G20 Prime Minister Carney and Prime Minister Modi to signal that we both want an FTA with each other and so this trip is about our first round launching negotiations and so hopefully concluding this year an FTA. We both know that FTAs-- free trade agreements--will unlock opportunities it presents stability, reliability for businesses, it sends a signal to them and you've just looking at the facts free trade leads to more opportunities more trade and more jobs for workers," he said.
Earlier, Union Minister of Commerce and Industry Piyush Goyal held a virtual meeting with Sidhu to advance discussions on the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA), aiming to strengthen bilateral trade and economic cooperation between the two countries.
Sharing details of the interaction Piyush Goyal said the two had discussions related to the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
"Had a virtual interaction with @MSidhuLiberal, Minister of International Trade, Canada, on advancing discussions related to the India-Canada Comprehensive Economic Partnership Agreement (CEPA). We also deliberated on strengthening business ties on both sides through regular delegation-level engagements over the coming months to build sustained momentum in our economic partnership," Goyal said.
The Canadian minister also expressed optimism following the meeting. Sidhu said he hopes to continue building momentum in the trading relationship and advancing discussions towards a CEPA trade agreement.
"I spoke with my Indian counterpart, Minister Piyush Goyal, to continue building momentum in our trading relationship and advancing discussions towards a CEPA trade agreement. With more than USD 30 billion in annual bilateral trade between Canada and India, there is strong potential to unlock new opportunities for Canadian exporters, strengthen commercial ties, and drive growth for businesses and workers in both countries," he said.
India is the world's fastest-growing major economy and a powerhouse in global commerce and technology. In 2024, India was Canada's seventh-largest goods and services trading partner, with two-way trade coming to USD 30.8 billion.
At last year's G20 Leaders' Summit, Canada and India agreed to formally launch negotiations for an ambitious Comprehensive Economic Partnership Agreement that will support Canada's goal to more than double two-way trade to USD 70 billion by 2030. (ANI)