FICCI delegation visits Canada to boost bilateral trade | SupportBiz


FICCI delegation visits Canada to boost bilateral trade

The Federation of Indian Chambers of Commerce and Industry (FICCI)has sent a 20-member business delegation comprising of SME companies on a five-day visit to Toronto, Winnipeg and Vancouver beginning today, i.e., November 18, in order to deepen business engagement between Indian and Canada.

The Governments of Ontario and British Columbia, Indo-Canada Chamber of Commerce have partnered with FICCI to arrange interactive sessions and field visits.

FICCI has been instrumental in bringing businesses of the two countries together and had led several initiatives to stimulate bilateral trade and investment. The overall objective of this delegation is to enhance connect between mid-sized SMEs in both countries which can be the next frontier in the bilateral economic relations.

The focus of the delegation will be agriculture, food products, renewable energy, steel scrap, pharmaceuticals, biotech, life sciences and Information Technology. The delegation will be engaging with officials of Ministry of Trade and Economic development of Ontario and British Columbia and Deloitte Canada and Indo-Canada Chamber of Commerce to find ways and means to place bilateral economic relations between the two countries.

The FICCI delegation will also visit other places such as Brampton for greater outreach to industry and enterprises which will help both sides to add depth to the existing areas of co-operation and tap new emerging opportunities.

Bilateral trade between India and Canada has seen substantial growth over the years and reached US$ 4.8 billion in 2012-13. The India-Canada Comprehensive Economic Partnerhsip Agreement (CEPA), which is still under negotiation, promises to boost trade to US$ 15 billion by 2015.