Canada, India close to finalise nuclear cooperation

Hyderabad: The Canadian International Trade Minister, Mr Stockwell Day, said India and Canada are close to finalising a nuclear cooperation agreement which will pave way for business opportunities, including transfer of intellectual property.

These could be through supply of nuclear reactors and high quality uranium supplies, where Canada is amongst the largest suppliers, Mr Day said answering queries at an interactive session hosted by the Confederation of Indian Industry here.

“India is among the top nations in the Canadian global strategy. The focus is on creating an open door policy,” he said.

Mr Day, earlier opened the Canadian Trade Office here in the presence of the Chief Minister, Dr Y.S. Rajasekhara Reddy.

Canadian companies SNC Lavalin, Atomic Energy of Canada and Cameco are part of the entourage.

“Along with nuclear cooperation agreement between the two countries, we are also in parleys with India on the possibilities of free trade agreement (FTA). The Canadian delegation held talks with the Prime Minister, Dr Manmohan Singh, and some senior Cabinet Ministers and officials to accelerate the execution of the deals, he said.

Given the current rough phase the global economy is passing through, a greater cooperation in trade and services could help tide over the crisis faster, he said.