The trade ministers of Canada and India held a virtual meeting on Monday as the launch of negotiations towards clinching the comprehensive economic partnership agreement or CEPA is expected to be announced during Canadian Prime Minister Mark Carney’s visit to India later this week.
In a post on X, Canada’s Minister of International Trade Maninder Sidhu said the conversation was intended to “continue building momentum in our trading relationship and advancing discussions towards a CEPA trade agreement.”
“With more than (CA)$30 billion in annual bilateral trade between Canada and India, there is strong potential to unlock new opportunities for Canadian exporters, strengthen commercial ties, and drive growth for businesses and workers in both countries,” he added.
Commerce and Industry Minister Piyush Goyal posted that they focused on “on advancing discussions related” to CEPA.
The period for public consultations has expired and the formal launch of negotiations is expected during Carney’s visit to India, which is scheduled to begin on February 27 in Mumbai, before he travels to New Delhi for engagements including the bilateral meeting with Prime Minister Narendra Modi.
A senior Indian official told the Hindustan Times that if the terms of reference for the pact, currently under discussion, are ready, “we will be able to launch the negotiations” during the visit.
Those terms are being discussed virtually by trade negotiators from the two countries.
“If it’s ready by then. If not, at least they will speak about moving forward on the CEPA,” the official said.
The announcement that India and Canada will enter into talks for the CEPA came after Carney had a bilateral meeting with Modi on the margins of the G20 Leaders’ Summit in Johannesburg, South Africa, in November.
A readout of the meeting issued by the Canadian PMO at the time said, “The leaders expressed confidence that the CEPA will serve as a powerful economic anchor and help more than double two-way trade to CA$ 70 billion by 2030.”
India and Canada worked on a CEPA earlier but that was dropped in favour of the Early Progress Trade Agreement or EPTA in 2022, so the two countries could capture low-hanging fruit. After several rounds of negotiations, Canada “paused” talks in August 2023, just weeks before then Prime Minister Justin Trudeau stated in the House of Commons on September 23 that year that there were “credible allegations” of a potential link between Indian agents and the killing of pro-Khalistan figure Hardeep Singh Nijjar three months earlier in Surrey, British Columbia. India described those accusations as “absurd” and relations cratered.gradual reset was set in motion after Carney assumed charge as PM last year, with the breakthrough in relations coming when he held a bilateral with Modi on the margins of the G7 Leaders’ Summit in Kananaskis in June. Since then, the relationship has gained momentum.