Indo-Canada strategic trade ties by 2013-end

BHUBANESWAR: “India’s economy is booming and needs good platform in education, energy, infrastructure, mining, ICT and agro-processing, in which Canada has comparative knowledge advantage and the partnership between the countries will give a better platform for the country’s growth,” said Deputy High Commissioner of Canada Jim Nickel here on Thursday.

Regarding the Comprehensive Economic Partnership Agreement (CEPA) in between India and Canada, Nickel said the agreement would give an advantage to Indo-Canadian trade ties and partnerships in other strategic sectors expectedly will come in effect by the end of the next year. The fourth round of negotiations is taking place in New Delhi this week and the agreement have entered in final stages, he added.

According to Nickel, the agreement CEPA would add at least six billion dollar each to India and Canada’s GNP. After the treaty comes into exist, the trade would increase by 50 per cent and CEPA would reinforce bilateral relations between the two countries in the field of trade and commerce, he said.

He also said that India has potential in the sectors like infrastructure, power generation and distribution, water treatment and supply, from which Canada can get benefit. He said about Foreign Investment Promotion and Protection Agreement (FIPA) to give extra mile in the field of trade and commerce. “Now the trade is accounts for five billion dollar, but the Prime Ministers of two countries have committed to raise the trade to 15 billion dollar by 2015,” said Nickel.

About Odisha he said, “The State has a promising future. We are interested to explore the opportunities in Odisha and planning to bring in a trade mission to the State by the year end.”

In his two-day visit to Odisha, Nickel visited KIIT, IIT Bhubaneswar, XIMB, Sai International School and Utkal University and hold discussions about the bilateral relations between the countries. On Saturday, he will address the Canadian studies conference at Berhampur University on ‘Diplomacy, Defence and Development’.