Tax News | 28 June 2013
Canada, India conclude latest EPA talks
by Mike Godfrey, Tax-News.com, Washington
Canada and India have concluded an eighth round of talks toward a comprehensive economic partnership agreement (EPA).
Negotiations took place in Ottawa from June 24-5, and focused on goods and services. The previous round, held in February, concentrated mostly on market access and related areas.
The Canadian Government says that it has identified core economic opportunities in India in the energy, agriculture, infrastructure and education sectors.
According to Canada’s International Trade Minister Ed Fast, "progress continues to be made." He added that "both sides remain committed to strengthening the Canada-India trade and investment relationship."
According to a joint Canada-India study on the likely outcomes of a trade agreement, Canada’s economy could benefit to the tune of CAD6bn (USD5.7bn). The Canadian Government says this equates to almost 40,000 new jobs across the country, or a CAD500 boost to the average family’s annual income.
Canada is also in trade talks with the European Union, Japan and the countries that comprise the Trans-Pacific Partnership.