Page 41 - MSME April-May 2017
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News project and Traffic Interventions would be in place traffic solutions to decongest traffic in and around by the end of June, 2017 and the construction work Pragati Maidan providing huge relief to the general would start by July, 2017. The Convention Centre, public. They also assured that the people of the they informed, would be completed by November- capital city of Delhi and the Country at large December, 2018 and the entire project by July- would welcome and appreciate the initiative August, 2019. once completed and would indeed applaud this landmark reality that would usher in a new era for Summing up, Shri Goyal and Dr. Mittal the Capital. n reiterated that the entire initiative, first-of-its-kind, would go a long way in ensuring comprehensive India-Canada Trade and Investment Relations A negotiating the Agreement. bilateral meeting was held on 03-03-2017 in New Delhi between visiting Canadian The Commerce and Industry Minister, Smt. Minister of International Trade, Mr. François- Philippe Champagne and Commerce and Industry Sitharaman also raised the issue of reforms in the Minister Smt. Nirmala Sitharaman. Temporary Foreign Workers Programme (TWFP) which has been made more stringent by Canada The two Ministers carried forward the and which adversely impacts the services trade discussion from the bilateral meeting held on from India. She discussed the importance of the the side lines of World Economic Forum at ease of movement for intra-company transferees Davos in January, 2017. The discussion focussed on short term visa for filling in certain crucial and on expanding bilateral trade and investment specialized activities. She gave example of a few between the Countries. Both the Ministers agreed Indian companies who have made investments in to expedite the conclusion of Bilateral Investment Canada but are finding it difficult to source key Promotion and Protection Agreement (BIPPA) employees from India as intra-company transferees. and Comprehensive Economic Partnership The Canadian Trade Minister assured that a Agreement (CEPA). The Canadian Trade Minister number of steps have been taken to facilitate the pointed out regarding the interest shown by ease of movement for professionals into Canada. Canadian Pension Funds in the Indian market He described the recent initiative under the and emphasised on the need for FIPA which Global Skill Strategy Programme wherein the visa will provide the required predictability and application for high skilled technicians, Professors, protection to investments. Addressing the issues Researchers etc. will be disposed of within two of MFN, ratchet, ISDS etc. raised by the Canadian weeks’ time. Similarly, for professionals visiting for side, the Commerce Minister, Smt. Sitharaman less than a year, a fast track process is being set up clarified that the negotiation should not get lost which will be similar to a concierge service. This in peripheral issues and should focus on bringing will be extended to companies invested in Canada in promotion and protection elements, which on a priority basis. provide stability and predictability to investments in each other’s country. She said that India has Both the Ministers agreed that the present approved the model text as a template and the trade which is in the range of $ 8 billion is much negotiation under FIPA should go forward in below its potential and there is a need to conclude accordance with the model text. However, both CEPA in a time bound manner for ensuring higher sides should remain flexible to incorporate the levels of trade in goods and services. They directed essential elements of investment protection while the respective Chief Negotiators on both sides to April-May, 2017 39
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