New Delhi, March 2 India and Canada have launched negotiations for a free trade agreement and aim to finalize the agreement soon, an official statement said on Monday.
The agreement is officially known as the Comprehensive Economic Partnership Agreement (CEPA).
The Terms of Reference (ToR) for the agreement were signed by Commerce and Industry Minister Piyush Goyal and his Canadian counterpart Maninder Sidhu here.
It was exchanged in the presence of Prime Minister Narendra Modi and Prime Minister Mark Carney of Canada at Hyderabad House here.
"India and Canada launched negotiations for the Comprehensive Economic Partnership Agreement (CEPA) today in New Delhi and decided to finalize it soon," the ministry said.
The ToR for the negotiations will provide the format, frequency, and approach for the CEPA negotiations.
It will serve as a guide to facilitate negotiations in order to conclude an ambitious, balanced, and mutually beneficial agreement.