India and Canada today signed a pact to set up a joint study group for enhancing trade and economic ties between the two countries to take the bilateral trades to 15 billion US dollars in the next five years annually. <br/> An MoU to this effect was signed after the delegation level talks between the Prime Minister, Dr. Manmohan Singh and his Canadian counterpart in New Delhi this evening.<br/> Another agreement on strengthening cooperation in the area of energy was signed to meet the growing energy demand in the country as Canada has emerged a super power of energy. <br/> Speaking to reporters after one and a half hour long discussions, the Prime Minister, Dr. Manmohan Singh said that another agreement in civil-nuclear cooperation is on the anvil. The two sides have already held several rounds of talks on the issue. Speaking on the occasion, the Canadian Prime Minister said, it is high time for both the countries to realise the full potential of economic cooperation. A joint statement issued at the end of the talks, the two leaders recognised the contribution of Indian origin community in Canada in strengthening relations between the two countries. <br/> The issues of climate change, Doha round of negotiations also focussed in the talks, apart from the impact of global economic melt-down. The two leaders agreed on initiatives to strengthen and diversify bilateral relations. They expressed satisfaction with the functioning of institutional mechanisms which steer bilateral cooperation and are looking forward to launch a new mechanisms to reinforce the partnership. <br/>Both sides recogniseid education as an area of new momentum, the need to facilitate mutually beneficial linkages in science, technology and innovation, as well as build synergies between institutions of higher learning in Canada and India.<br/>Ahead of the delegation level talks with the Prime Minister at Hydrabad House later this evening, the visiting Canadian Prime Minister held wide ranging discussions with Indian leaders to expand and diversify cooperation between the two countries. The focus remained on giving push to the bilateral trade which is at present only five billion US dollars.<br/>The two countries are likely to sign a number of pacts after the summit level talks between Dr. Manmohan Singh and Stephan Harper. They include one in the field of civil nuclear cooperation besides an MoU on culture. The two countries are also expected to announce launch of feasibility study for a Free Trade Agreement when the Prime Minister Dr. Manmohan Singh meets his Canadian counterpart Stephen Harper for the delegation-level talks.<br/>Mr. Harper had a busy schedule during the day. He called on the President and the vice President to exchange views on the issues of mutual interest. The External Affairs Minister, Mr. S.M. Krishna, UPA Chairperson, Mrs. Sonia Gandhi and the leader of the Opposition in the Lok Sabha, Mr. L.K. Advani also held discussions with him on a host of issues of regional and international importance.<br/>During his stay in India, he will also visit Akshardham Temple in Delhi and Golden Temple in Amritsar. <br/>