India, Canada launch negotiations for free trade pact

New Delhi, Mar 2 (PTI) India and Canada have launched negotiations for a free trade agreement and look to finalise the pact soon, an official statement said on Monday.

The pact is officially known as the Comprehensive Economic Partnership Agreement (CEPA).

The Terms of Reference (ToR) for the agreement was signed by Commerce and Industry Minister Piyush Goyal and his Canadian counterpart Maninder Sidhu here.

It was exchanged in the presence of Prime Minister Narendra Modi and Prime Minister Mark Carney of Canada at Hyderabad House here.

"India and Canada launched negotiations for the Comprehensive Economic Partnership Agreement (CEPA) today in New Delhi and decided to finalise it soon," the ministry said.

The ToR of negotiations will provide format, frequency, and approach to the CEPA negotiations.

It will serve as a guide to facilitate negotiations in order to conclude an ambitious, balanced and mutually beneficial pact. PTI RR MR