Canada pressing for investment protection pact
The Hindu Business Online
Canada pressing for investment protection pact
8 February 2010
KOLKATA: Canada High Commissioner in India Mr Joseph Caron said his country is pressing for entering into a foreign investment protection treaty with ours.
“We are pressing with the Indian government for a foreign investment protection treaty,” Mr Caron said on Monday.
Besides, the two countries have already initiated a Comprehensive Economic Partnership Agreement (CEPA), which is now at a study stage, Mr Caron said at the Merchants’ Chamber of Commerce here.
On bilateral trade, he said the present volume of two-way trade was $5 billion. “There is huge potential for this volume to grow,” he said.
He said 50 per cent of Canada’s exports to India comprise of fertilisers, iron ore, nickel and copper.
Mr Caron said India was a big importer of agricultural produce from Canada. “We want importing volumes in agri-produce to grow”. At present, 15-18 per cent of Canada’s export basket consists of agri-produce.
Canada has set up a trade office in Kolkata. Mr Caron said there are no immediate plans to set up a visa office in the city. - PTI
