Canada trade pact may be ready by year-end
New Delhi: India and Canada, which is in the midst of an intense trade battle with the US, may finalise a trade deal by the end of the year, if not earlier, commerce secretary Rajesh Agrawal said.The statement comes amid ongoing talks at the official level, with two chapters having been finalised. Canada is seen to be keen to be diversifying its trade basket, considering US President Donald Trump’s tariff pressure. India and Canada returned to the negotiating table earlier this year after suspending talks for nearly two years with a bilateral investment treaty also part of a comprehensive pact.Agrawal said India and China have started discussions to address bilateral trade concerns, including structural trade imbalances and supply chain issues. He said the recent meeting between commerce and industry minister Piyush Goyal and his Chinese counterpart Wang Wentao was an initial discussion aimed at understanding each other’s positions on various trade-related issues.“These discussions are happening after a long gap. So, slowly, each side will need to come up with their issues and also their position on issues of the other side, so that we can take this forward. Both sides should work together to address each other’s concern in the trade space… also look at the structural trade imbalance, supply chain issues, and how to build trust in the trade between the two sides… I think both sides are engaged to understand each other’s position on many of these issues,” the secretary said.He also said that Goyal, who will be travelling to the US for a G-20 ministerial meeting, is expected to hold talks with his American counterparts although the details have not been worked out yet.
