World News | India, Canada to hold trade talks in September

Ottawa [Canada]Aug. 27 (ANI): Canada reaffirms its commitment to an interim trade deal with India, saying the next round of talks will take place in September.

During a virtual meeting between Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, Mary Ng, and Minister of Commerce, Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal, both ministers emphasized advancing Canada’s Department of Global Affairs. said in a press release the trade and investment relations between the two countries.

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Minister Wu applauded the spirit of cooperation and compromise that marked the negotiations, and reiterated Canada’s goal of maintaining momentum in the fourth round of negotiations scheduled for September.

Both ministers highlighted the progress made in negotiations on the Canada-India Early Progress Trade Agreement to be held in July and August 2022.

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Recently, the Inca held the fifth Ministerial Dialogue on Trade and Investment (MDTI), the ministers agreed to formally restart the Inca Comprehensive Economic Partnership Agreement (CEPA) negotiations, and consider reaching an interim agreement or early progress trade agreement. (EPTA) could bring early commercial gains for both countries.

Ministers acknowledged the importance of building resilient supply chains in key sectors and exchanged views on cooperation in this area.

Temporary or early harvest trade agreements are used to ease tariffs on trade in certain goods between two countries or trade blocs until a comprehensive FTA (Free Trade Agreement) is concluded.

The government’s emphasis on a tentative deal could be tactical, so that a deal can be struck with minimal commitment and allow contentious issues to be resolved later.

CEPA, on the other hand, is a free trade agreement covering economic partnerships such as trade in services and investment and trade negotiations.

It could even consider negotiating in areas such as trade facilitation and customs cooperation, competition and intellectual property.

Partnership agreements or cooperation agreements are more comprehensive than free trade agreements.

CEPA also studies the regulatory aspects of trade and includes an agreement that covers regulatory issues.

India is Canada’s 11th largest export market and its 12th largest trading partner. (ANI)

(This is an unedited and auto-generated story from the Syndicated News feed, the body of the content may not have been modified or edited by LatestLY staff)