Canada and India are in the process of finalising a
mutual investment promotion pact. The Indo-Canadian
Foreign Investment and Promotion Agreement (FIPA) is
expected to be concluded in the coming months.
minister of international trade, David Emerson reaffirmed
his commitment to move the agreement forward in a telephone
conversation with Union commerce and industry minister
Kamal Nath over the weekend.
Indian market offers tremendous opportunities for Canadian
investors," he said, adding the increasing two-way
investment with India was a priority for Canadian government.
are nearing completion, and the Canadian and Indian
governments have agreed to increase efforts to finalise
the agreement in the coming months," Emerson said
in a statement.
to encourage investment and stimulate trade flows between
the two countries were also being stepped up, he said.
2005, Canadian direct investment in India was valued
at $204 million, while India''s direct investment in
Canada reached $145 million, up 58 per cent from the
fact, Canada wants India to consider a free-trade agreement
between the two countries if global trade talks continue
to falter, reports quoting a Canadian lawmaker said.
the Doha Round talks of the World Trade Organisation
aimed at lowering tariffs worldwide stalled because
of disputes over farm subsidies, Canada said it would
seek out bilateral or regional agreements in Asia if
on the outcome of the Doha round, we will assess the
steps for meaningful trade liberalization between our
two countries," Ted Menzies, parliamentary secretary
to the minister of international trade, said in a speech
in New Delhi.