Daijiworld Media Network - New Delhi

New Delhi, Jul 12: India and Canada have completed the third round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), with both sides reporting positive progress and reaffirming their commitment to conclude the trade pact in 2026.

The latest round of discussions was held in Ottawa from July 6 to 10, covering multiple areas of negotiation. According to the Department of Commerce, the talks advanced constructively across several negotiating tracks, reflecting the shared objective of strengthening economic ties.

The renewed momentum follows recent discussions between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney on the sidelines of the G7 Summit in Evian, France, where both leaders expressed optimism about concluding the long-pending trade agreement.

During the meeting, Prime Minister Modi indicated that he was planning to visit Canada later this year and expressed hope that the trade agreement could be finalised before his visit.

He also highlighted the potential for expanding cooperation in areas such as technology and energy security, describing Canada as an important partner for India in these sectors.

Prime Minister Carney, in turn, said negotiations on the proposed agreement were progressing well and expressed confidence that the pact would significantly benefit businesses and workers in both countries.

Following his meeting with Union Commerce and Industry Minister Piyush Goyal in Ottawa, Carney had described the proposed free trade agreement as a potential "game changer" that would open up major economic opportunities for Canadian businesses through greater access to the Indian market.

The CEPA negotiations are expected to further deepen trade and investment relations between India and Canada by reducing barriers to commerce and expanding cooperation across key sectors.