Canada's Trade Focus Shifts to India: PM Carney's Expected Visit

Canadian Prime Minister Mark Carney is expected to visit India in early March, signaling a deepening trade relationship between the two countries. This visit comes as Canada seeks to diversify its trade relationships amid trade tensions with the United States.

Potential Agreements and Discussions

During the visit, Carney is expected to sign agreements with India on uranium, energy, minerals, and artificial intelligence. The formal start of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) is also likely to begin in March.

Canada's Broader Trade Diversification Strategy

Canada is actively pursuing multiple trade deals to reduce its reliance on the U.S. market. This includes recent engagement with China, where agreements were made to reduce tariffs on Canadian agricultural exports and electric vehicles. Canada has also concluded trade agreements with Ecuador and Indonesia and signed investment agreements with the United Arab Emirates.

Thawing Relations

This visit marks a thawing in Canada-India relations. According to Indian High Commissioner Dinesh Patnaik, the visit is likely to occur in the first week of March, following the tabling of India's Union Budget on February 1.

Conclusion

Prime Minister Mark Carney's expected visit to India in early March underscores Canada's strategic pivot towards diversifying its trade relationships and strengthening ties with India. The visit aims to expand bilateral trade and finalize agreements across key sectors.