India-Canada to fast-track CEPA negotiations

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SME Times News Bureau | 28 Jan, 2012
Union Minister of commerce and Industry , Anand Sharma and his Canadian counter part, Ed Fast, have agreed to fast-track the CEPA negotiations between the two nations.

Sharma informed this during his meet with Canadian counter part at Wolrd Econmic Forum at Davos on Friday.

Both the Minister agreed to fast-track the CEPA negotiations and committed to advise the negotiators who are meeting in February accordingly. It was decided that a CEO forum will be formed and will meet for the first meeting when Sharma visits Canada in May-June this year.

Both the leaders reviewed the bilateral ties and expressed satisfaction over the deepning economic ties.

Meanwhile the President of Walmart International, Doug McMillon also met the Indian Minister and discussed investment climate in India. He conveyed his commitment to invest in Indian market as an when FDI in multi brand retail is allowed.

He also expressed his willingness to abide by all the proposed conditionalities to promote rural economy, employment and back-end investment. Similarly, Frans Muller, of retail chain Metro AG Germany also met the Minister and informed him about the plans to double their investment in cash and carry in India as well as number of stores in India.

Representative of Volkswagon also met the Minister and conveyed that the automobile giant proposes to invest 2000 cr in India during coming months.

The Minister also met Harish Manwani, COO, Uniliver at the India Adda, Cafe Schneider at the annual meeting of global thought leaders.

Sharma was also scheduled to meet Johann N. Schneider-Ammann. Swiss Federal Councillor, Economic Affairs and also participate in IBSA meeting later in the day.