OTTAWA: Canadian Prime Minister Mark Carney has stated that Canada views India as a trustworthy trade partner, adding that while issues may arise, as in other countries, mechanisms exist to resolve them. This statement comes as Canada seeks to re-establish ties with India.
Carney noted that the lack of a Comprehensive Economic Partnership Agreement (CEPA) with India, one of the world’s fastest-growing economies, remains a hindrance to trade. His efforts to improve relations with India are also taking place amid uncertainties in U.S. trade. As part of this push, Carney invited the Indian Prime Minister to the G7 summit and announced a new trilateral partnership during a meeting at the G20 summit.
Bilateral relations between the two nations deteriorated in 2023 after Canadian allegations surfaced regarding the involvement of Indian agents in the killing of Sikh leader Hardeep Singh Nijjar, leading Canada to suspend trade negotiations.
Against this backdrop, the government is now attempting to strengthen existing commercial ties through a new trade agreement, which would provide protection for commerce in both countries. The Trade Minister has indicated that, as a new government, they are considering launching fresh discussions focused on seeking new opportunities, rather than simply resuming the old contract negotiations.
In 2024, India was Canada’s seventh-largest trading partner, with bilateral trade valued at $30.9 billion.
