Two peas on a pod – on Canada-India trade ties
While this blog is about immigration, global trade is closely linked to immigration, so here is a story on attempts at boosting international trade with India.
In a recent trade visit to India, Canada’s federal industry minister Tony Clement had this to say
“Canada and India are, in many ways, two peas in a pod. We are both trading nations, we both not only survive but thrive because we wish to trade with the world,” said Clement. “The time is right now to have that conversation, not when things are booming. When things are tougher we can find ways to succeed together, and that’s exactly what I’m doing.”
“The message was the same: that Canada is open for business, that we have withstood the economic turmoil relatively well, as compared to other G7 and OECD countries, our bank system is one of the few bank systems that hasn’t needed a bailout, for instance, and that we are positioned to get out of the contraction as quickly as possible and then start to grow again,” said Clement.
The industry minister said he told those he met with that Canada’s corporate tax structure and changes being made to the Investment Canada Act, the legislation that regulates investments made by non-Canadians in businesses in Canada, should make Canada an attractive location for Indian companies to grow.
Clement said Canada is signalling “our steps away from the protectionist ill-winds that are blowing.” He and his counterparts did discuss efforts by the United States Congress to include protectionist-type measures in that country’s economic stimulus package, Clement said, and they “came to the conclusion that Canada and India are on the same side” and that “protectionism had to be resisted.”
Canada and India conduct about $4 billion worth of trade every year and Clement said there is no reason that figure should not increase, especially given there are one million Canadians of Indian origin and that the two countries have positive relations.
The current global economic conditions mean Canada and India should pursue even tighter business ties, Clement said.
February 18th, 2009 at 2:15 am
sir/madam,
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