India and Canada are all set to sign an interim free trade agreement as the commerce minister PiyushGoyal has reached that county on May 8th. Frequent negotiations are happening with Canada over trade deals. Commerce Minister Goyal has reached Canada and he is likely to sign an Interim Agreement or Early Progress Trade Agreement (EPTA) that could bring early commercial gains to both countries,, commerce ministry sources were quoted by Media reports
The interim agreement will include high-level commitments in goods, services, rules of origin, sanitary and phyto-sanitary measures, technical barriers to trade, and dispute settlement, and may also cover any other areas mutually agreed upon..
The total merchandise trade with Canada in FY23 was around 9 billion US dollars, which is less than one per cent of India’s total trade during the year. India’s major exports to Canada are pharmaceuticals, textiles, metal and steel. India largely imports petroleum products from Canada.
Source: Sagar Sandesh
