Finance
Canadian Prime Minister Mark Carney announced a new strategic relationship between Canada and India in important industries such as energy, innovation, and artificial intelligence, showcasing the two nations’ growing economic collaboration.
Speaking to reporters during a news conference in Sydney, Carney said deeper engagement with India reflected the changing global landscape and both countries’ ambitions to strengthen commercial and technological links.
“Canada and India are forging a new strategic partnership in energy, in talent, in innovation, and artificial intelligence,” he said, a day after he concluded his historic trip to India.
Carney said a comprehensive economic agreement between the two countries is expected to play a central role in expanding bilateral trade.
“Foundational to this partnership is the new comprehensive economic partnership agreement, which we aim to conclude this year,” he said.
The Canadian leader said recent discussions in India had already produced major commercial agreements.
“In India, we secured over $5 billion in commercial agreements,” he said.
He added that the agreements would deepen cooperation between Canadian and Indian businesses and attract investment into communities in both countries.
“These agreements will help double two-way trade to over $70 billion by 2030,” Carney said.
Energy cooperation is also part of the expanding partnership, including collaboration in civil nuclear energy.
“The government of India and KO’s $2.6 billion uranium supply agreement will support India’s civil nuclear energy program and our shared commitment to clean, reliable base load power,” he said.
Carney also highlighted cooperation in education and innovation.
“We also launched Canada Indian Talent and Innovation Strategy backed by 13 educational partnerships between our leading universities,” he said.
He said engagement between the two governments has increased significantly in recent months.
“There has been more engagement between the Canadian and the Indian governments over the course of less than the past year than in total over the past two decades,” he said.
The renewed engagement reflects changing global conditions and the ambitions of both countries to diversify partnerships, Carney said.
“This is a reflection of the world we face today and the ambitions of both our nations to build and diversify,” he said.
Carney was speaking during a news conference when he fielded questions from journalists from various international and Canadian sites. The Canadian leader is presently traveling in the Indo-Pacific region, where he plans to meet with Australian officials and business groups to strengthen economic and strategic collaboration.
India and Canada have been exploring deeper collaboration in areas such as clean energy, trade, technology, and education as they aim to increase their engagement in the Indo-Pacific region.
Source: IANS
