Toronto: Seeking to promote trade and investment ties with India, Canada’s four provinces have jointly formulated strategic plans, including setting up of an India-Canada business corridor.
The Premiers of Atlantic provinces of New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador have decided to visit India later this year to make an assessment of the Indian market and boost trade ties between the two countries.
The decision was taken at a high-level meeting presided over by the New Brunswick’s newly elected and Canada’s youngest Premier Shawn Graham. The Atlantic Canada Opportunities Agency would also be part of the high powered delegation.
One of key ideas behind the visit is to set up Canada India Business Corridor, promote port facilities at Saint John and have joint ventures with leading logistics companies.
“Eastern Canada is finally waking up to what the rest of Canada has known for a long time about India-- the “hot economy”,” Kam Rathee, President of Canada-India Business Council (C-IBC) said.
He said Eastern Canada’s two key ports, Halifax in Nova Scotia and Saint John in New Brunswick could only be saved only by increased trade ties with India as their business was fast drying up.
Rathee said that once the Canada India business corridor through St. John port becomes functional, then ships from India need not have to go to Vancouver, thereby saving 1,810 km of journey.