Indian Envoy ahead of PM Mark Carney’s India visit

Indian High Commissioner to Canada Dinesh Patnaik expressed optimism that India and Canada could sign a comprehensive trade agreement within a year despite past delays in negotiations, The Canadian Press reported.

Speaking ahead of Canadian Prime Minister Mark Carney’s anticipated visit to India, Patnaik said a 12-month timeline for finalizing the proposed Comprehensive Economic Partnership Agreement (CEPA) is achievable, given the evolving geopolitical landscape and the growing need for cooperation across sectors.

“Given that we both have enough experience in making such free trade agreements in the last year or two, we expect it to happen much faster,” Patnaik was quoted as saying by The Canadian Press. he said.

Trade negotiations between the two countries, which started in 2010, have been interrupted many times. But in November, Prime Minister Narendra Modi and Carney agreed to formally restart talks on CEPA, which is expected to cover trade in goods and services, investments, agriculture and digital trade.

In a statement, the Ministry of External Affairs said that on the sidelines of the G20 Summit in Johannesburg, Prime Minister Modi and Carney “agreed to begin negotiations on the highly ambitious Comprehensive Economic Partnership Agreement (CEPA), which aims to double bilateral trade to US$ 50 billion by 2030.”

Last month, sources in the MEA said Prime Minister Mark Carney would visit India in the first week of March.

The Canadian Prime Minister’s visit will likely see the signing of agreements on uranium, energy, minerals and Artificial Intelligence, and will focus on trade during his visit.

Carney’s upcoming visit will likely include meetings with senior government representatives and business leaders in New Delhi and Mumbai aimed at boosting bilateral relations, Patnaik said.

Drawing attention to the latest progress, the ambassador noted that India and Canada signed various agreements in areas such as energy, climate change, high-tech research and climate-resilient agriculture last year, and emphasized that both leaders are willing to strengthen economic ties, according to The Canadian Press.
“Both prime ministers are very keen, so there is intention on both sides,” he said.

Patnaik also pointed out that both countries have gained significant experience in negotiating trade agreements in recent years.
“Our perspective on the world has changed. We’ve both moved into our positions. So a lot of the problems that existed in the past that might have held us back are probably more solvable now,” he said, as quoted by The Canadian Press.

According to the envoy, there are no significant policy conflicts between the two countries and their economies are largely complementary. He noted that Canada is a major exporter of commodities, while India represents a large consumer market, reducing the likelihood of direct competition between industries.

He also noted that typical sticking points in trade negotiations, such as phytosanitary standards, government procurement rules and customs procedures, do not pose significant difficulties in current discussions.

“We don’t really compete on a lot of things,” Patnaik added, as quoted by The Canadian Press, and underlined the potential for a mutually beneficial trade agreement.