New Delhi [India], October 5 (ANI): India and Canada are set to begin the fifth round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in Ottawa, with Canada pitching energy, critical minerals and aerospace cooperation as key areas for expanding economic ties between the two countries.
Canadian International Trade Minister Maninder Sidhu said the negotiations would build on the momentum from his recent visit to Mumbai and discussions with Union Commerce Minister Piyush Goyal at the G20 Trade Ministers Meeting.
“Tomorrow morning in Ottawa, Canada and India begin Round 5 of CEPA trade negotiations,” Sidhu said in a post on X, adding that Canada was focused on concluding a trade agreement that would “open new doors for Canadian businesses and workers in one of the world's largest economies.”
The latest round follows Sidhu’s meeting with Goyal in Mumbai, where the two sides discussed the fourth round of negotiations. In his remarks at the G20 meeting, Sidhu had said India and Canada were targeting an increase in bilateral trade from USD 30 billion to USD 70 billion over the next five years.
Sidhu also highlighted Canada’s potential role in meeting India’s future energy requirements, saying India’s economy is growing 7 per cent annually and its energy needs are expected to rise 70 per cent by 2035.
“Canada is ready to deliver,” Sidhu said in the post, pointing to the USD 33 billion investment in LNG Canada Phase 2. He said the project would make it the second-largest facility of its kind in the world and that Canada would become a top-five LNG exporter within five years.
Beyond energy, Sidhu identified critical minerals and aerospace as other areas where Canada wants to deepen cooperation with India. He said Canada was seeking to be “the reliable partner India needs” as the two countries work towards a trade agreement.
At the G20 meeting, Sidhu had also highlighted supply chain diversification as an important area of cooperation, particularly in critical minerals. He said the two countries could work together across energy, critical minerals, aerospace, investment and research.
The two governments have committed to concluding the CEPA negotiations by the end of 2026, as they seek to deepen trade and investment ties and work towards their longer-term trade ambitions. The fifth round in Ottawa marks another step in the process.
Bilateral trade between India and Canada stood at around USD 8 billion in FY 2025-26, with India exporting goods worth USD 4.67 billion and importing USD 3.28 billion, according to the Commerce Ministry. (ANI)
India, Canada to begin fifth CEPA round today; eye deeper ties in energy, critical minerals: Trade Minister Maninder Sidhu
