Search the Internet          Tips  Sites: Finance, Investment

Canada keen to boost trade ties with India, South Asia

Ajit Jain
India Abroad Correspondent in Toronto

Because of her strong historical ties to the region coupled with her strength in telecommunications, transportation, power, natural resources and education, Canada wants to be an active participant in the sweeping changes currently taking place in South Asia, says Foreign Affairs Minister John Manley.

"Canada considers herself a recognised and a logical partner to meet many of South Asia's infrastructure needs and Canadian companies are looking forward to collaborating further with the South Asian private sector in areas such as research and development, and will continue to actively seek joint business opportunities, particularly in the emerging information technology sector," he argues in a signed article that forms part of a 56-page Department of Foreign Affairs official publication titled 'Canada & South Asia: Partners for the New Century'.

The report was released recently and distributed to over 1,000 businessmen, CEOs of major multinationals, professionals, politicians, diplomats and community leaders at the annual gala dinner of Indo-Canada Chamber of Commerce at the Metro Toronto Convention Center.

"The role of Indo-Canadians/South Asians is crucial to this," said James Junke, director of South Asian, Department of Foreign Affairs.

"The Indo-Canadian community has very well developed networks and its members can interpret India to Canada and Canada to India," he said in an interview.

"The role of the community is catalytic and so we are trying to portray, part of our general efforts, to engage the region to say what the solutions are. We simply say dialogs are important whether Kashmir or any other bilateral issues," Junke said.

"South Asia has become synonymous with change. For most South Asians, the change is for the better. Into this exciting story steps Canada, linked by almost one million Canadian citizens who trace their family roots to the region," says the introductory chapter that lays emphasis on economic deregulation, rising living standards and longer life expectancy, increasing literacy with 77 per cent of the population going to primary schools, 55 per cent enrollment in secondary schools, and male and female literacy rates also rising.

But Sri Lanka leads the way in South Asian literacy, as 91 per cent of its population is literate. "Education is compulsory and provided without charge," he said.

According to Canadian officials, development indicators 'show continuing improvement for women in South Asia: fewer births, more girls in school, longer life, increased literacy'.

It is an encouraging sign of development that 83 per cent of urban population in South Asia have access to safe drinking water and 46 per cent have access to sanitation.

Still there are wide gaps when compared with industrialised countries. For example, per capita electricity use is mere 347 kwh in India, while Canada's per capita power usage is 43 times higher than India's. These numbers are disappointing, but 347 kwh is "more than twice that used in 1980," Canadian official publication reveals.

India is rated as third in terms of GNP (1998 figures) in South Asia with Sri Lanka on top with $810, Pakistan $470 and India at $440.00.

The report lays stress on trade opportunities for the Canadian companies and so it catalogues sectors where Canadian companies could take advantage. These include: telecommunications and information technologies, advanced technology products; agriculture and food products; electrical generation, transmission and distribution.

This was specially noted by visiting Indian minister for Heavy Industries Manohar Joshi who said at Canada-India Business Council seminar in Toronto that the infrastructure sector was very important, specially power where foreign companies could even take interest in transmission and distribution which are slowly being privatised by state electricity boards.

"With a growing share of world population and income, the countries of South Asia now command a real presence on the world stage," says the Canadian Department of Foreign Affairs.

In this regard special mention is made of the Group of Twenty (G-20) through which India is playing a greater role in international economic discussions.

Canada's Finance Minister Paul Martin, first chairperson of the G-20, is quoted as having said recently that this group brings together a cross-section of national economies at different stages of economic maturity, thereby providing the diversity needed to address the wide range of human needs.

The next meeting of G-20 will be held in November in New Delhi.

Martin will be amongst the participants. He is likely to lead a business delegation to India.

Money

Business News

Tell us what you think of this report