Date:30/10/2007 URL: http://www.thehindubusinessline.com/2007/10/30/stories/2007103050941100.htm

Back Canada to open trade office in Hyderabad

Our Bureau

Hyderabad, Oct. 29 Canada will open its trade office here in the next six months, according to the Canadian High Commissioner in India, Mr David Malone.

Bilateral trade between Canada and India grew by 50 per cent last year to touch $3.6 billion and was expected to clock 25 per cent growth this year.

A trade office in Hyderabad would give a further boost to the trade, Mr Malone said at an interactive meet organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) here on Monday.

Canada’s interests

Canada’s interest in India was more in sectors such as mining, biotechnology, nanotechnology, agriculture and food processing, he added.

Mr Atluri Subba Rao, President, Fapcci, said the Indo-Canadian trade would touch $10 billion in the next five years.

India currently exports apparel, precious stones, metals organic chemicals and iron and steel products to Canada. The imports include cereals, fertilisers, aircraft, paper and paperboard.

“India and Canada can work together in engineering services, food processing, pharma, information technology and biotechnology for mutual benefit,” he said.