India says the Foreign Investment Protection and Promotion Agreement, FIPPA and Comprehensive Economic Partnership Agreement, CEPA with Canada, would be finalised soon. Speaking to newsmen in Toronto, Commerce Minister Anand Sharma said the two agreements would safeguard investors' rights and boost bilateral trade and investment between the two countries. He said India and Canada have exchanged draft of FIPPA agreement and differences over the taxation and expropriation issues will be resolved soon. Mr Sharma said negotiations have started on the CEPA also.Sharma said that while India wanted that taxation and expropriation issues should not be part of the proposed FIPPA agreement, Canada wanted taxation to be part of the pact. He said India wants these issues should be dealt with separately in the double taxation treaty between the two countries. He added, India had maintained the same stand when it had signedsimilar agreements with other countries.The Minister said that he would be meeting Canadian Prime Minister Stephen Harper, Minister of International Trade Peter Van Loan and other ministers in Ottawa today and would try to resolve the outstanding issues.Later addressing top executives of Canadian companies at a dinner hosted by the Canada-India Business Council (C-IBC), the Minister said: "India's trade and investment partnership with Canada is on an exciting path and holds great promise for both countries.
News On AIR | September 24, 2010 11:30 AM
India to soon sign FIPPA and CEPA with Canada: Anand Sharma