Prime Minister Narendra Modi and his Canadian counterpart Mark Carney have decided that their two countries would formally launch negotiations for an ambitious Comprehensive Economic Partnership Agreement (CEPA) and double bilateral trade to USD 70 billion by 2030.
The two leaders met last night on the margins of the G20 Leaders’ Summit in Johannesburg, South Africa.
They welcomed the positive momentum in bilateral relations since their last meeting in June at the G7 Summit in Kananaskis and the new roadmap for bilateral engagement announced by their foreign ministers in October.
”Building on the 7th Ministerial Dialogue on Trade and Investment held in New Delhi, on November 13, 2025, the leaders agreed to formally launch negotiations for an ambitious CEPA encompassing goods, services, investment, agriculture and agri-food, digital trade, mobility, and sustainable development. The leaders expressed confidence that the CEPA will serve as a powerful economic anchor and help more than double two-way trade to $70 billion by 2030,” an official statement said on Monday.
Following the return of high commissioners in August 2025, the two PMs agreed to enhance diplomatic staffing levels to meet growing consular demands and to strengthen people-to-people linkages, including through reciprocal knowledge transfer.
PM Carney also welcomed the progress being made in the law enforcement dialogue between the two countries.
The two leaders agreed on the importance of regular reciprocal high-level visits, including by ministers and members of the business community.
The Canadian PM accepted PM Modi’s invitation to visit India in early 2026.