India, Canada Sign MoU - Jan 14, 2009

India and Canada have signed a memorandum of understanding here to extend the co-operation in agriculture that includes the sharing of knowledge on technology as well as the marketing of farm products and animal development.

The MoU was signed by Sharad Pawar, Food and Agriculture Minister and Canada''a Minister of Agriculture Gerry Ritz.

“The cooperation envisaged in the MoU is expected to lead to increase in bilateral trade by creating new marketing opportunities benefitting farmers of both the countries,” an official statement said. It also added that the MoU provides for the representation of all stakeholders, including the private sector.

Canada Eyes At More Tie-Ups

The Canadian Secretary of State for Foreign Affairs and International Trade, Ms Helen Guergis, said that her country targets to create new links in India in sectors such as agriculture, mining, life sciences, information and communication technology, financial services and infrastructure. Canada can assist India as it continues its incredible economic ascent. The Secretary of State also called on India to look at opportunities in Canada. Ms Guergis said that last year trade between India and Canada touched an all-time record of $ 3.74 billion. This upward trend is continuing with a 59 per cent growth in Canadian exports this past January alone.

Canada For Closer Economic Ties With India

OTTAWA: Seeking to increase its commercial presence in Indian markets, Canada has stepped up efforts to expand economic cooperation with India, a senior official has said.

"We have stepped up efforts to expand our level of cooperation that would be beneficial for both the countries," Deepak Obhrai, newly appointed Parliamentary Secretary to the Minister of International Cooperation, said.

Obhrai, who is also the Parliamentary Secretary to the Minister of Foreign Affairs, said Canada was focusing on increasing its commercial presence in rapidly-growing markets in India and to support Canadian investment there. He was speaking at a Indo-Canada Chamber of Commerce meeting here yesterday.

R L Narayan, Indian High Commissioner to Canada said that trade relations between the two nations were about to take-off and high-level exchanges at official and political level were going on.

He stressed there has been a rapid increase in foreign direct investment in Canada by Indian software companies.

Areas of Indian investment also included minerals and metals, pharmaceuticals, petro-chemicals, oil and gas, auto ancillaries, financial services.

Citing the examples of State Bank of India and ICICI, he said that the Indian banks were expanding fast in Canada.

Narayan said that more and more Canadian companies were investing in the country as they realised that Indian economy was one of the worlds fast expanding economies.

The Indian ambassador also highlighted the cooperation in field of education and said that more and more educational institutions and universities were establishing closer linkages between the people of two countries for mutual benefits.