National
Canada seeks to double trade with India
By Our Special Correspondent
NEW DELHI, DEC. 17. Canada has decided to tap the huge trading potential with India and double bilateral trade by 2003. This follows identification of India as a priority country for trade and investment by the Canadian Government.
This was disclosed by the Canadian High Commissioner, Mr. Peter Sutherland, while addressing a meeting organised by the Associated Chambers of Commerce and Industry (Assocham).
He said that Canada had decided to re-engage with India both politically and economically. It would thus be sending as many as six high-level business delegations in 2002 led by Ministers of the Federal Cabinet. Describing the target of doubling the trade turnover as ``ambitious but realistic'', he expressed confidence of achieving a major breakthrough in trading relations as both Canada and India offered a competitive business environment and a huge market.
Responding to the chamber's concerns, Mr. Sutherland said there has been a total transformation of the way in which the Canadian Government and business were looking at this part of the world. He identified several areas of bilateral trading interest including energy, environmental technology, telecommunications, transport, mining, low cost construction, banking, insurance, entertainment and the ICT (information, communication, technology) sector.
The Assocham president, Mr. Raghu Mody, said the time was ripe for the two countries to actively engage in reviewing the Indian imports basket and identify a better strategy to leverage bilateral relations. He said Canada had shown interest in meeting South Asia's infrastructure requirements and Canadian companies were looking forward to deepening collaboration with the private sector in areas such as research and development as well as the information technology sector.
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