New Delhi, September 25: India and Canada plan to sign social security and foreign investment promotion and protection agreements soon in a bid to boost trade and business ties.
Commerce and Industry Minister Anand Sharma discussed the possibility of early signing of the agreements with Canadian Minister of International Trade Peter Van Loan in Ottawa Friday.
‘The ministers look forward to the early signing followed by ratification and implementation of the Social Security Agreement,’ an official statement here said Saturday.
The two ministers noted that the Foreign Investment Promotion and Protection Agreement was under negotiation and looked forward to its early conclusion, it added.
These two agreements will make a significant contribution to the commercial and economic interaction between the two countries, according to the statement.
Under the umbrella of the ministerial dialogue, both sides agreed in principle to establish working groups on public private partnership (PPP) model, focussing on infrastructure, energy, mining, agro-processing, education and information and communication technology, the statement said.
India and Canada target to increase their bilateral trade to $15 billion annually in the next five years from the current level of $4.5 billion.
–IANS