MBABANE: Canadian Prime Minister Mark Carney is heading to India for what experts say is a “very significant trip” as he tries to reset relations between the two countries and find new markets for Canadian exports, Aljazeera reported.
It has been reported that, while the trip which starts on Friday, is expected to be heavy on diplomacy, experts question whether it will result in major economic deals to shore up Canada’s economy.
But Carney has pledged to broaden the country’s trading partners as relations with its neighbour, the United States, fray.
India, with its 1.4 billion people, is a potentially large market for Canada’s vast petroleum and natural gas reserves, among other products.
But to build those economic bonds will require Carney to overcome diplomatic tensions and hesitancy about the costs of its exports, according to analysts.
“Canada domestically needs to figure out to what extent it wants to grow its oil and gas industry,” said Tarun Khanna, Professor at the University of British Columbia who focuses on energy policy.
Canadian Prime Minister Mark Carney is looking to reset diplomatic ties with India and forge stronger economic relations (File: Gonzalo Fuentes via Aljazeera).