Goyal and Sidhu discuss advancing India-Canada Comprehensive Economic Partnership Agreement negotiations
GS2Polity · Governance · IR· India's bilateral relations· Prelims·
Bilateral trade and market access: a relevant GS2 topic for International Relations.
Why in news
Commerce Minister Piyush Goyal and Canada's Trade Minister Maninder Sidhu discussed advancing negotiations for the India-Canada Comprehensive Economic Partnership Agreement (CEPA).
Background
India's Commerce and Industry Minister Piyush Goyal and Canada's Minister of International Trade Maninder Sidhu met to discuss the CEPA. The goal is to create a balanced agreement to boost two-way commerce and investments through meaningful market access.
Facts for Prelims
- FactCEPA: India-Canada Comprehensive Economic Partnership Agreement
- PostPiyush Goyal: India's Commerce and Industry Minister
- PostManinder Sidhu: Canada's Minister of International Trade
Prelims practice question
What is the primary objective of the Comprehensive Economic Partnership Agreement (CEPA) discussed between India and Canada?
- (a)Boost two-way commerce and investments
- (b)Standardize environmental laws
- (c)Restrict agricultural imports
- (d)Establish a common currency
Show answer
Answer: (a) Boost two-way commerce and investments — The goal of the CEPA is to create a balanced agreement to boost two-way commerce and investments through meaningful market access.
For Mains
Q. Discuss the significance of Comprehensive Economic Partnership Agreements (CEPAs) in enhancing bilateral trade and investment between emerging and developed economies.
Dimensions to cover in your answer
- Market access: Balancing domestic industry protection with liberalized trade flows
- Investment catalyst: Leveraging CEPA to facilitate deeper commercial engagement and capital flow
Keywords: bilateral trade · market access · commercial engagement · investment · CEPA
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