Canada Keeps Trade Deal With India On Hold Corporate Sector Disappointed
Date
9/4/2023 10:20:20 AM
(MENAFN- KNN India)
Canada Keeps Trade Deal With India On Hold; Corporate Sector Disappointed New Delhi, Sept 4 (KNN) Canada has taken a break on negotiations towards an Early Progress Trade Agreement (EPTA) with India which has apparently disappointed the Corporate sector of Canada, reported HT.
The“pause”, after ten rounds of negotiations, was revealed by India's High Commissioner to Ottawa Sanjay Kumar Verma on Friday.
He told the Hindustan Times it was“requested by the Canadian side”.
Reacting to the development, Goldy Hyder, president and CEO of the Ottawa-headquartered Business Council of Canada (BCC), described it as“unfortunate”.
He felt the“pause” to due to what“appears a mix of politics and actual difficulty in negotiating on content”.
The politics is related to pro-Khalistan activity in Canada including the so-called Khalistan Referendum along with other irritants like displaying anti-India posters featuring India's senior-most diplomats in the country and the appearance of a float featuring the assassination of late Prime Minister Indira Gandhi during a parade in the Greater Toronto Area in June.
“With over ten years of working on a still to complete Foreign Investment Protection Agreement (FIPA) and now the inability to even finalise what should be a fairly basic EPTA, it doesn't reflect well on either side,” the BCC head said.
“We hope this is nothing more than a short pause to take a deep breath,” Hyder said.
There is still hope that the pause will be temporary. A person engaged in the Canada-India business corridor, said the“relationship” between Indian Commerce Minister Piyush Goyal and his Canadian counterpart, Minister of International Trade, Export Promotion, Small Business and Economic Development Mary Ng,“is still strong so it is a possibility”.
Ng, in fact, is expected to lead a Team Canada trade delegation to India in October.
(KNN Bureau)
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