India, Canada to hold 5th Ministerial Dialogue on Trade and Investment
Mar 09, 2022
New Delhi [India], March 9 : India and Canada will be holding the 5th Ministerial Dialogue on Trade and Investment (MDTI) from March 10-13.
Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Government of Canada will be visiting New Delhi to attend the event, read the Ministry of Commerce and Industry press release.
The meeting will be co-chaired by Piyush Goyal, Minister of Textiles, Commerce and Industry and Consumer Affairs, Food and Public Distribution.
During the MDTI meeting, various bilateral trade and investment issues will be discussed in order to further strengthen the bilateral ties and economic partnership including India-Canada Comprehensive Economic Partnership Agreement (CEPA), added the release.
There has been a strong recovery in bilateral trade in 2021 after the fallout as a result of the COVID-19 pandemic, with bilateral trade in goods reaching USD 6.29 billion registering a growth rate of 12 per cent as compared to the previous year.
Total bilateral trade including goods and services crossed USD 11 billion. In the current financial year during April 2021-January 2022, Indian exports to Canada have increased to USD 3 billion approx. registering a growth of almost 25 per cent over the previous year, said the release.
Major Indian exports to Canada include drugs and pharmaceutical products, iron & steel products, marine products, cotton fabrics & readymade garments (RMG) and chemicals etc, while key Canadian exports to India comprise pulses, fertilizers, coal and crude petroleum etc.
