Contributing Lawyers

Canada

Cyndee Todgham Cherniak

United States

Susan Kohn Ross

Australia

Andrew Hudson



Canada and India Issue Joint Statement on Trade and Investment

On September 24, 2010, India's Minister of Commerce and Industry, Mr. Anand Sharma and Canada's Minister of International Trade, Mr. Peter Van Loan issued a joint statement on trade and investment initiatives. please go to the following link - http://www.canadainternational.gc.ca/india-inde/highlights-faits/JointStatement-DeclarationConjointe-Sept2010.aspx

The Ministers also released and announced the acceptance of the Canada-India Joint Study Group Report that examined the feasibility of a comprehensive economic partnership agreement (CEPA).

Further, the Ministers stated that they "looked forward to the early signing followed by ratification and implementation of the Social Security Agreement" and noted that "the Foreign Investment Promotion and Protection Agreement was under negotiation and [they] looked forward to its early conclusion." In addition, the Ministers stated that they "welcomed the commencement of negotiations for an Audio-visual Coproduction Agreement and looked forward to the increased collaboration and the trade that would result from it." The Ministers also indicated that a Memorandum of Understanding on Cooperation in Road Transportation was under negotiation and should be concluded in 2010.

India's Minister Sharma is reported to have informed the India press that the Canada-India CEPA negotiations have commenced. See the report in The Economic Times - http://economictimes.indiatimes.com/news/economy/foreign-trade/FIPPA-CEPA-to-conclude-soon-Commerce-Minister/articleshow/6618520.cms

It is not clear from the press release whether Canada and India are still one step before the formal launch of the CEPA negotiations. What is clear is that Canada and India are strengthening their trade relationship. However, the steps are incremental in nature. When the Canada-India CEPA negotiations will begin is anyone's guess. There have been talks for a number of years. When the Canada-India CEPA is concluded, it would most likely be Canada's largest bilateral regional trading arrangement with a developing country (after NAFTA which is a trilateral agreement) to date. In other words, it will be an important regional trading arrangement with great potential and opportunity to increase Canadian exports.

 

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