Canada offers natural resources to India to boost ties

TORONTO, June 12: The government of Canada has accelerated its efforts to capitalise on the trade potential of India and is ready to meet the country�s need for natural resources, an official said.�As India�s need for energy, minerals, metals and wood products increases, Canada is well positioned to be a key supplier,� Minister of Natural Resources Joe Oliver said while highlighting the importance of the natural resource sectors in bilateral trade and collaboration with India.He was speaking at the Indo-Canada Chamber of Commerce�s (ICCC) annual awards ceremony and gala night held on Sunday.�Given that one in five jobs and more than 60 per cent of Canada�s economy depend on trade, deepening our trade partnership with India is vital to Canada�s economic growth,� the Minister said.Natural resources already comprise half of all Canada�s exports to India.Canadian exports to India have increased over 26 per cent last year, and that number is expected to rise as India�s economy is expected to remain among the fastest growing in the world.�Canada is building strong ties with India to share science, technologies and trade through the Canada-India Energy Forum, memorandums of understanding and our annual bilateral merchandise trade agreements,� Oliver said while presenting ICCC�s annual awards.�We are negotiating a Comprehensive Economic Partnership Agreement that could fundamentally change the size and scope of two-way trade.�The Government of Canada is renewing Canada�s regulatory system to improve Canada�s ability to attract investment, create jobs, build long-term prosperity and encourage competitiveness,� he said.The Minister presented the ICCC annual awards to winners of eleven categories. Over 1200 Indo-Canadians, politicians and dignitaries attended the function. (PTI)