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Canada Promotes Benefits Of Indian Economic Deal

by Mike Godfrey, Tax-News.com, Washington

21 May 2013


A comprehensive economic partnership agreement (CEPA) between Canada and India would "lead to new opportunities and new sources of prosperity in both countries," Canada's International Trade Minister has said.

Ed Fast was promoting the benefits of the deal for small and medium-sized enterprises (SMEs) in a meeting with members of the Indo-Canadian business community in Ontario. Negotiators are seeking the reduction and removal of tariffs on goods, the facilitation of trade in services, and cuts to red tape. Core economic opportunities identified in India by the Canadian Government include the energy, agriculture, infrastructure and education sectors. Seven official rounds of talks have now been held.

"With SMEs accounting for more than 99 percent of companies in Canada, our government understands the crucial role that these businesses play in generating jobs, growth and prosperity in every region of our country. That's why we continue to work hard to open new markets for our exporters in the largest, most dynamic and fastest-growing economies in the world, including India," Fast said.

Canada is also engaged in negotiations with the European Union, Japan and the countries that comprise the Trans-Pacific Partnership.

TAGS: tax | business | India | export duty | energy | accounting | tariffs | trade treaty | excise duty | agreements | education | tax rates | Canada | import duty | tax reform | trade | European Union (EU) | Japan | services | Europe

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