Canada inks trade deal with India
Canwest News Service
Canada inks trade deal with India
By David Akin, Canwest News Service
17 November 2009
NEW DELHI — Canada and India signed two trade agreements Tuesday that Prime Minister Stephen Harper said will bring the two countries closer together.
The two countries said they intend to establish a Comprehensive Economic Partnership Agreement — a free-trade agreement in all but name — and have set up the first study group that will set the parameters for full-scale negotiations that will likely get underway in about a year.
“India’s rapidly growing economy and its commitment to expand its investment regime will provide significant opportunities for investors in a variety of sectors, including infrastructure, education, life sciences, science and technology and natural resources among many others,” Mr. Harper said in a statement.
“In making India a priority market, our government’s commitment is translating into collaboration and progress in a number of important areas.”
The two countries also signed a deal to foster co-operation in the energy sector.
But Mr. Harper will leave India Wednesday without inking two key deals: one on nuclear co-operation and another on investor protection. Both those deals are seen as crucial to spring new investment in Canada.
On Monday in Mumbai, Mr. Harper said a deal on nuclear co-operation would happen “soon” but did not elaborate.
In Delhi on Tuesday, Mr. Harper held a meeting with key players in India’s nuclear energy sector. Canwest News Service has learned that senior executives from Atomic Energy of Canada Ltd., Saskatchewan uranium company Cameco Ltd. and Montreal-based engineering and construction firm SNC-Lavalin also attended that meeting.
The prime minister’s aides did not publicize that meeting and, while they’ve allowed photographers to attend other business and education roundtable meetings hosted by Mr. Harper, the PMO did not inform reporters about the nuclear energy meeting nor would PMO officials provide any details about topics discussed.
The other deal — a foreign investor protection agreement — is also close to being signed, trade minister Stockwell Day said in an interview before leaving for the India trip.
