Annual Bilateral Trade Of 15 Billion Between Andhra Pradesh (India) And Canada

23 Jan 2014

Andhra Pradesh and Canada are contemplating an yearly bilateral trade of $15 billion in the coming years.

Confident about the continuing growth of India and Andhra Pradesh’s opportunities in several important sectors of economy, the ICCC (Indo-Canadian Chamber of Commerce) said that, in the areas of mutual synergy, both Andhra Pradesh and Canada can work together.

President of ICCC, Naval Bajaj, said at a business meet organized by the CII (Confederation of Indian Industry) and AP state government that in the areas of food and agriculture, pharma, higher education, energy and infrastructure where Canada has proved its expertise, the country is ready to partner with Andhra Pradesh.

Bajaj said that the strong Indian diaspora of 1.2 million in Canada can operate as a strong bridge to continue an economic relationship between Andhra Pradesh and Canada. She added that ICCC will launch the CERC (Centre of Excellence and Resource Centre) in March which is expected to operate as a common business development and facilitation centre.

An annual bilateral trade of $15 billion is being contemplated by Canada and India in the next few years. This is a raise of $10 billion from the current agreement. Both India and Canada are working collectively to remove some of the barriers hampering the bilateral trade.

Canadian Government’s Member of Parliament, Joe Daniel said that a comprehensive trade agreement is in the works and it is aimed at loosening duty regime in areas covering export, services and other broad-based items.

Highlighting the positive business climate and the policy decisions of the Government of Andhra Pradesh in IT & ITeS, the Canadian MP said that dialogue is generally converted into dollars in Andhra Pradesh.