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India, Canada agree for early conclusion of proposed FTA
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SME Times News Bureau | 14 Nov, 2017
India and Canada on Monday agreed to work towards an early conclusion of
a proposed bilateral free trade agreement, with New Delhi highlighting
the importance of services under such a deal, an official statement
said.
The proposed Comprehensive Economic Partnership Agreement
(CEPA) figured in the discussions between India's Commerce Minister
Suresh Prabhu and Canadian Minister for International Trade
Francois-Philippe Champagne at the 4th India-Canada Ministerial Dialogue
on trade and investment here, a Commerce Ministry statement said.
"Both
sides noted the exchange of wish lists on the services front. India
reiterated that the architecture for services under the CEPA is a vital
focus area and a response from Canada on positive elements has to be
mutually beneficial," it said.
"The Canadian side assured that
they will look into the issues concerned, including movement of natural
persons and what kind of provisions could be built into the CEPA," it
said.
India is keen to ensure easier movement of Indian skilled workers to Canada for short-term work.
The negotiations for the free trade agreement started in November 2010.
"The Ministers directed the chief negotiators to discuss and explore ways for early conclusion of the agreement," it added.
The
statement said that India and Canada discussed the progress made under
the Foreign Investment Promotion and Protection Agreement (FIPA) and
expressed hope for its early conclusion.
They also said that bilateral trade was "much below" its untapped potential.
The bilateral merchandise trade in 2016-17 was worth $6.13 billion.
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