Recently, Canada released an Indo-Pacific strategy document and said that the Indo-Pacific region would play a critical role in shaping its future over the next half-century.
According to the document, the region encompasses 40 economies, over four billion people and USD 47.19 trillion in economic activity and it is the world’s fastest-growing region and home to six of Canada’s top 13 trading partners.
The Indo-Pacific region also represents significant opportunities for growing the economy here at home and for Canadian workers and businesses for decades to come.
On the role of India in the region, the document said that its growing strategic, economic and demographic importance in the Indo-Pacific makes it a critical partner in Canada’s pursuit of its objectives under this strategy.
Canada and India have shared the tradition of democracy and pluralism, a common commitment to a rules-based international system and multilateralism, a mutual interest in expanding our commercial relationship and extensive and growing people-to-people connections, according to the strategy document.
Canada intends to grow economic ties with India including through deeper trade and investment, as well as cooperation in building resilient supply chains and seeks to expand market access by concluding an Early Progress Trade Agreement (EPTA) as a step toward a Comprehensive Economic Partnership Agreement.
It also talks about investing in and connecting people, including by bolstering Canada’s visa-processing capacity in New Delhi and Chandigarh and supporting academic, educational, cultural, youth and research exchanges.
India’s strategic importance and leadership—both across the region and globally—will only increase as India—the world’s biggest democracy—becomes the most populous country in the world and continues to grow its economy, according to the document.
Canada also seeks new opportunities to partner and engage in dialogue in areas of common interest and values, including security and the promotion of democracy, pluralism and human rights.