Canada-India Business Council

Canada-India Business Council

July 23, 2012 06:00 ET

The Honourable Ed Fast, Canadian Minister of International Trade, Provides an Exclusive Update on Canada-India Trade Relations

The Canada-India Business Council Hosts Interactive Roundtable for Senior Business Leaders

MONTREAL, QUEBEC--(Marketwire - July 23, 2012) - The Canada India Business Council (C-IBC) is pleased to host the Honourable Ed Fast, the Canadian Minister of International Trade, for an update on the negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between Canada and India, as well as insight into the Government's broader pro-trade agenda.

"Our government remains squarely focused on what matters to Canadians: jobs, growth and long-term prosperity. Deepening Canada's trading relationships with high-growth markets like India is key to these efforts," said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. "I am pleased to say that the Canada-India trade talks are progressing well and both sides are committed to concluding an ambitious agreement which will unlock the full potential of Canada-India trade, and benefit workers and businesses in both countries."

The C-IBC facilitated discussion offers a platform for Canadian business leaders from a variety of sectors to share their strategic priorities with the Minister. The roundtable is sponsored by Sun Life Financial, KPMG and the Caisse de dépôt.

Attendees include senior representatives from the Caisse de dépôt, Sun Life Financial, Bombardier, Cameco, TD Waterhouse, TaraSpan, Emirates Airlines, The Halifax Port Authority, Borden Ladner Gervais LLP, Stikeman Elliot LLP and Pace Law Firm.

In November 2009, the Prime Ministers of Canada and India set a combined annual merchandise trade target of CAD $15 billion to be reached by 2015. In 2011, trade grew by 23% surpassing CAD $5 B.

The Canada-India Joint Study Report concluded that free trade could boost Canada's economy by at least CAD $6 billion and increase bilateral trade with India by 50 percent. In February, the government announced intentions to "fast track" negotiations in order to conclude them in 2013.

"Canada and India are both committed to rules-based liberalized trade and investment. Canada's opportunities in India are increasingly recognized across the country and India has welcomed the trade and investment openings that will flow from the bilateral agreement. The meeting today in Montreal reflects the commitment of the government and people of Quebec to participate fully in the rapidly emerging bilateral as well as multilateral markets," adds The Hon. Roy MacLaren, P.C., Chairman, C-IBC.

Media Contact:

To arrange for additional commentary or analysis from: The Hon. Roy MacLaren, P.C., Chairman, C-IBC please contact:

The Canada-India Business Council
Emily Hamilton, Communications & Research Coordinator
T: 416-214-5947 x26
E: ehamilton@canada-indiabusiness.ca

About The Canada India Business Council:

For almost 30 years, C-IBC has been the leading, bi-national member driven association dedicated to the sustained growth of trade, investment and services between Canada and India.

C-IBC works to assist Canadian corporations by offering knowledge, experience and insight on bilateral trade and investment opportunities. With over 100 members, the C-IBC represents the leading companies in the Canada-India business corridor. C-IBC is headquartered in Toronto with operations in Delhi, Vancouver and Montreal.

For more information, please see: http://canada-indiabusiness.ca.

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