ICCC Newsletter - June 2017

15 Jun 2017 9:00 AM | Mayank Bhatt (Administrator)
ICCC Newsletter  
 
June May 2017  
                                                              
Letter from the President
 

Canada-India Business Symposium



 Arun Srivastava, Goldy Hyder, Nadir Patel, Deepak Chopra at the CIBS
 
Action by private sector will break bilateral logjam in Canada-India business ties 

A good day to all of you.

Friends, we organised two back-to-back mega events last week – the Canada – India Business Symposium and the Annual Awards and Gala Night. In this edition of our newsletter I want to share with you some thoughts that I expressed at the Canada – India Business Symposium. They cover the bilateral economic relations between our two countries.

Canada – India relations have been growing steadily and this is especially so on the economic front. The merchandise trade between our two countries has been registering a steady increase although between 2015 and 2016 there has been a marginal decline. In 2015, the two-way trade was $8.25billion and in 2016, it was $8.02billion, the important aspect of these numbers is that trade is on an upward trajectory

However, that is really only half the story. The other half is the excruciatingly slow pace of growth in our trade relations. What explains this sluggish pace? There are many reasons and the main one is Canada’s preponderance to trade with its southern neighbour the United States. Canada’s two-way merchandise trade with the US is close to $600billion annually. It is obvious that when you have such a great and ready market next doors, you don’t need to look around too much.

However, with the changing dynamics of global trade, it is becoming imperative for the Canadian entrepreneurs to explore other markets and especially the emerging markets such as India. In terms of investments, too, Canadian investors have been slow to acknowledge the growth potential in the Indian market and as a result Indian investments in Canada are far greater. 

 Click here to read the: Letter from President

 Insight
 

Is Canada an essential country, at this time in the life of our planet?

 

Address in the Canadian Parliament by Minister Freeland on Canada’s foreign policy priorities 

Mr. Speaker,

Here is a question: Is Canada an essential country, at this time in the life of our planet?

Most of us here would agree that it is. But if we assert this, we are called to explain why. And we are called to consider the specifics of what we must do as a consequence.

International relationships that had seemed immutable for 70 years are being called into question. From Europe, to Asia, to our own North American home, long-standing pacts that have formed the bedrock of our security and prosperity for generations are being tested.

And new shared human imperatives—the fight against climate change first among them—call for renewed, uncommon resolve.

Turning aside from our responsibilities is not an option. Instead we must think carefully and deeply about what is happening, and find a way forward.

By definition, the path we choose must be one that serves the interests of all Canadians and upholds our broadly held national values; that preserves and nurtures Canadian prosperity and security; and that contributes to our collective goal of a better, safer, more just, more prosperous, and sustainable world. One we can pass onto our children and grandchildren, with a sense of having done the right thing.

This is no small order, Mr. Speaker. It is what I would like to spend few minutes talking about today.

Since before the end of the Second World War, beginning with the international conference at Bretton Woods in 1944, Canada has been deeply engaged in, and greatly enjoyed the benefits of, a global order based on rules.

These were principles and standards that were applied, perhaps not perfectly at all times by all states, but certainly by the vast majority of democratic states, most of the time.

The system had at its heart the core notions of territorial integrity, human rights, democracy, respect for the rule of law, and an aspiration to free and friendly trade.

The common volition toward this order arose from a fervent determination not to repeat the immediate past.

Humankind had learned through the direct experience of horror and hardship, Mr. Speaker, that the narrow pursuit of national self-interest, the law of the jungle, led to nothing but carnage and poverty.

Two global conflicts and the Great Depression, all in the span of less than half a century, taught our parents and grandparents that national borders must be inviolate; that international trading relationships created not only prosperity but also peace; and that a true world community, one based on shared aspirations and standards, was not only desirable but essential to our very survival.

That deep yearning toward lasting peace led to the creation of international institutions that endure to this day—with the nations of Western Europe, together with their transatlantic allies, the United States and Canada, at their foundation

In each of these evolutions in how we humans organize ourselves, Canadians played pivotal roles.

                           

Click here to read the speech: Insight

In the News
 
 
   
ICCC's Director for Trade, Commerce and Affinity Programs, Kanwar Dhanjal has been nominated as the global ambassador of by board of Brampton Board of Trade (BBOT)  and was awarded the Chair’s award by BBOT 2107 Business Excellence Awards held May 11, 2017
     
 EDC Trade Insights  Export Guide BDC Business Desk 

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Step-by-Step Guide to Exporting

 
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 Trade Insights  Trade Commissioners' Service Export Guide Business Desk 

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ICCC's programs and events






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Global Tenders
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Government of India.




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