Ed Fast, Canada’s Minister of International Trade and Minister for the Asia-Pacific Gateway, highlighted the launch of the fifth round of negotiations toward a Canada-India trade agreement. “Our government remains firmly focused on what matters to Canadians: jobs, growth and long-term prosperity. Deepening Canada’s trading relationships with high-growth markets like India is key to these efforts,” said Fast.
A Canada-India joint study concluded that a trade agreement between the two countries could boost Canada’s economy by at least $6 billion. That translates to almost 40,000 new jobs or a $500 boost to the average Canadian family’s annual income. A trade agreement with India would eliminate or reduce tariffs on Canadian goods, liberalize trade in services, and directly benefit Canadian workers and businesses in sectors such as agriculture, resource-related and chemical products, transport equipment, machinery and equipment, and services.