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Canada wants to increased trade with India from $5bn to $15bn

Staff writer |
Canada is pushing for increased trade with India, aiming at tripling the bi-lateral trade in two years.

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Joe Daniel, Member of Parliament, Canada said the current trade between India and Canada was $5 billion. "Our goal is to increase the two-day trade to $15 billion by 2015 and I think this is achievable," he told reports.

Mr. Daniel, who is part of a Canadian trade delegation visiting different states in India, said the bilateral trade agreement that India and Canada was discussing would help achieve this goal. The agreement, which envisages abolition of certain duties and taxes, was in the final stages of negotiations, it is being negotiated for almost three years now and certain trade issues were holding it up.

"It aims at making life easier when we are actually trading between us. If you are bringing a product and there is certain amount of duty, there won’t be any more duty on that. That’s kind of a general principle," said Mr. Daniel.

K Pradeep Chandra, Principal Secretary, Andhra Pradesh Department of Industries, invited the Canadian delegation to explore investment opportunities in the State, which is home to a clutch of MNCs and domestic corporate houses.

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