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India, Canada committed to strengthen economic ties

Staff Writer | October 4, 2016
India and Canada are committed to deepen the economic and financial relationship and enhance strategic partnership, Finance Minister Arun Jaitley has said as he invited Canadian investment in India's infrastructure sector.
Minister Chrystia Freeland
Cooperation   Negotiators from both countries will meet soon
"Both countries are committed to strengthen economic ties as there is a positive environment. Negotiators from both countries will meet soon to resolve sticking points," he said.

Jaitley met his Canadian counterpart Bill Morneau and Canada's International Trade Minister Chrystia Freeland and reviewed progress in India Canada relationship including proposed Comprehensive Economic Partnership Agreement (CEPA) and Foreign Investment and Promotion and Protection Agreement (FIPA).

"Both countries are very keen to finalise both the proposed agreements," Jaitley said. He said that the two countries have also agreed to enhance strategic partnership.

The minister also held a series of meetings with Canadian pension funds, bankers, financial sector companies. "Foreign Direct Investment by Canadian Investors was about 12 billion dollar in India in the past 24 months.

This does not include portfolio investment by Canadian investors," he said.