India And Canada To Finalise Comprehensive Economic Partnership Soon

New Delhi: India and Canada on Monday inked a landmark agreement on cooperation in supplies of uranium, and decided to soon finalise a comprehensive economic partnership agreement. Canadian Prime Minister Mark Carney held bilateral talks with Prime Minister Narendra Modi at Hyderabad House here to discuss ways to strengthen their bilateral partnership.

The two sides inked several agreements, including one for cooperation in the critical minerals sector. "In the civil nuclear energy sector, we have struck a landmark deal for long-term uranium supply. We will also work together on small modular reactors and advanced reactors," Modi said while addressing the joint press meet with his Canadian counterpart, Carney.

Under the agreement, Canada is going to supply uranium to India. The two sides also firmed up the terms of reference for the comprehensive economic partnership agreement. "India and Canada hold an unwavering faith in democratic values. We celebrate diversity. The well-being of humanity is our shared vision. This very vision inspires us to move forward in every field," Modi said.

"Today, we discussed transforming this vision into a next-level partnership," he said. The prime minister said India and Canada will also work to enhance defence industries and maritime domain awareness. The two sides also discussed ways to boost cooperation in combating terrorism. "We agree that terrorism, extremism and radicalisation are shared and serious challenges not only for both countries but for all of humanity," Modi said.

"Our close cooperation against them is extremely important for global peace and stability," he said. In his remarks, Carney said Canada and India are charting their own course for the future, which is the expansion of a "valued partnership" with new ambitions.

The two leaders also deliberated on the precarious security situation in West Asia, with Prime Minister Modi asserting that India supports the resolution of all conflicts through dialogue and diplomacy.

"Very few people in the world have led the central banks of two countries. From our very first meeting, a new energy, mutual trust, and positivity have emerged in our relations." PM Modi hailed Carney's visit to India as an important milestone. He recalled a warm meeting with him during the G7 meeting in Canada last year and also praised Carney for his role in the central banking leadership of two countries.

"I credit my friend Prime Minister Carney for the growing momentum across all areas of cooperation. India and Canada have an unwavering belief in democratic values. We celebrate diversity. The welfare of humanity is our shared vision," added PM Modi.

He said that later in the day, the leaders will also meet the members of the business community, whose suggestions will help lay the roadmap for economic cooperation between the two countries. Carney, accompanied by his wife Diana Fox Carney, arrived in Mumbai on Friday for his first official visit to India from February 27 to March 2.

Also Read:

1. 'Unlocking New Opportunities': Canadian PM Carney Highlights India's Economic Growth After Landing In Mumbai
2. Repair, Rebalance, Re-engage: The Significance Of Canadian PM Carney's India visit