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Friday, Feb 20, 2004

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`Indo-Canadian trade growing at 10 pc'

Our Bureau

Coimbatore , Feb. 20

THE Indo-Canadian trade is growing at 10 per cent year-on-year, according to Mr Viney Gupta, Advisor (Trade), Canadian High Commission.

He told Business Line that the business between the two countries was showing good improvement. "In the past, there was a thinking that the Canadian Government had imposed trade sanctions. But that has since been cleared and the business relationships between the two countries have improved remarkably,'' he said.

The rising ministerial visits (from Canada) in the last one-year was a clear indication of their interest, he said and added that so far eight ministerial visits had taken place this fiscal.

However, the high customs duty rate on import of manufacturing equipment and goods and the phyto-sanitary conditions in India have slackened the growth process. Despite these issues, the two-way trade between the countries is said to be Canadian $2 million.

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