Piyush Goyal in Canada to promote closer trade & investment ties

Union Minister of Commerce and Industry Piyush Goyal is in Canada to promote closer trade & investment ties between the two countries.

He will co-chair the sixth India-Canada Ministerial Dialogue on Trade and Investment (MDTI) with Canada's Minister of International Trade, Export Promotion, Small Business and Economic Development Mary Ng in Ottawa on Monday (May 8, 2024). The MDTI acts as a forum for institutional discussion of a variety of topics including trade, investments, and potential areas of collaboration between the two nations.

"The Dialogue will focus on various themes including strengthening the Bilateral Trade Relationship between India and Canada, Investment Promotion and Cooperation, Green Transition – including Critical Minerals discussion and new Areas of Cooperation such as promoting B2B engagements," the Ministry of Commerce and Industry said.

Additionally, both ministers will review the progress of India-Canada CEPA negotiations, which were launched during the last MDTI meeting in March 2022 with a possibility to have an interim agreement or EPTA (Early Progress Trade Agreement). Since then, seven rounds of negotiations have been held.

Union Minister Goyal will then visit Toronto from May 9-10, 2023 to promote trade and investment between India and Canada. His engagements there will feature a number of activities, including discussions with Canadian company CEOs, a round table of Indian and Canadian CEOs, interactions with Canadian and Indian businesses operating in Canada, and a round table discussion of the financial sector. FICCI will accompany the Minister with a delegation of Indian CEOs.

Later, Goyal will also inaugurate the Indian Pavilion at SIAL CANADA-2023, the biggest culinary innovation trade event in North America with over 1000 exhibitors from 50 different nations.

The event caters to the needs of the retail, food service, and food processing industries. Indian businesses participating in SIAL Canada will be represented by the Trade Promotion Council of India (TPCI), Agricultural & Processed Food Products Export Development Authority (APEDA), India Trade Promotion Organization (ITPO), and Associated Chambers of Commerce and Industry of India (ASSOCHAM).

On the sidelines of SIAL-2023, a trade and investment promotion event for the agriculture and food processing industry will be held with the involvement of Indian firms and Canadian importers. This event is projected to draw more than 200 firms.

According to the Ministry of Commerce and Industry, Piyush Goyal's visit is expected to provide bilateral trade and investment partnerships more momentum.