PM Modi, Carney Reaffirm Push To Seal CEPA 'At Earliest Opportunity', Double Trade By 2030

Canadian Prime Minister Mark Carney and Prime Minister Narendra Modi have reaffirmed their commitment to conclude negotiations on a Comprehensive Economic Partnership Agreement (CEPA) “at the earliest opportunity”, with the deal aimed at doubling bilateral trade by 2030.

In a statement on Tuesday, Carney’s office said the two leaders discussed growing engagement between India and Canada across finance, defence and security, artificial intelligence and people-to-people ties.

“The prime ministers welcomed the increased engagement between Canada and India over the past year, including in areas such as finance, defence and security, people-to-people ties, and artificial intelligence. They underscored the opportunity to build on this renewed momentum,”

the statement said.

The leaders also welcomed recent diplomatic engagements and agreed to remain in close contact ahead of PM Modi’s visit to Canada in December.

Trade Deal, Economic Ties In Focus

The two prime ministers underlined the need to build on the positive momentum in bilateral relations and advance the proposed trade agreement.

“The leaders reaffirmed their commitment to conclude negotiations on a Comprehensive Economic Partnership Agreement (CEPA) at the earliest opportunity, supporting efforts to double two-way trade by 2030,” Carney’s office said.

The leaders also welcomed the ongoing Team Canada Trade Mission to India, led by International Trade Minister Maninder Sidhu, and Canadian Foreign Minister Anita Anand’s visit to New Delhi this week.

Security, Indo-Pacific Cooperation Discussed

Carney and PM Modi also discussed the impact of geopolitical instability on the Indo-Pacific region and the importance of reliable partners in energy and agriculture.

They welcomed the bilateral security dialogue held in India last week as part of ongoing cooperation between the two countries at the national security adviser level.

Carney also thanked PM Modi for his leadership in seeking a peaceful resolution to Russia’s war on Ukraine.

The latest conversation follows Canadian Prime Minister’s Office adviser David Morrison’s visit to India from October 5 to 7, during which he held talks with National Security Adviser Ajit Doval on counter-terrorism, organised crime and law enforcement cooperation.

Relations Show Signs Of Improvement

In a post on X, PM Modi called his conversation with Carney as “warm and productive”, saying the two countries would work towards concrete outcomes across trade, energy, technology, security and people-to-people ties.

India-Canada relations deteriorated sharply in 2023 after former Canadian prime minister Justin Trudeau alleged a potential Indian link to the killing of Khalistan separatist Hardeep Singh Nijjar. New Delhi rejected the allegation.

Relations have since shown signs of improvement, with diplomatic engagement gathering pace following Carney’s visit to India in March. Both countries have also restored high commissioners to each other’s capitals.

(With inputs from agencies)