India-Canada bilateral trade to increase to $15 bn by 2015

TORONTO: Canada has identified India as a priority market in its global commerce strategy and committed to increase its bilateral trade with the country to $15 bn by 2015.

"Canada would like to take economic relationship with India to a new level in trade. It has identified India as a priority market in our Global Commerce Strategy," Jim Flaherty, Canadian Minister of Finance said yesterday at a function organised by Indian Consulate to commemorate the 64th India Independence Day.

"Our goal is to increase bilateral trade to $15 bn by 2015", he said. Bilateral trade between India and Canada during 2009-10 was $3.19 bn.

Flaherty said that Canada had added three new trade offices in India in 2010, raising the number of its trade offices in the country to eight.

While commending India's 'extra-ordinary' emergence from a nation that was primarily based on agriculture to as an emerging economic superpower, Flaherty said both India and Canada were discussing Global Bank Tax and reforms of international financial institutions.