OTTAWA, ONTARIO--(Marketwire - Oct. 7, 2012) - The Honourable Joe Oliver, Canada's Minister of Natural Resources, will visit Delhi and Mumbai India from October 8 to 12, where he will meet with government officials and industry leaders to advance investment, innovation and partnership opportunities with India in the natural resources sector.
"The Harper Government is aggressively pursuing agreements with countries in the Asia-Pacific region to give Canadian businesses an opportunity to compete in the fastest-growing region in the world," said Minister Oliver. "We recognize that increasing trade with India is vital to creating Canadian jobs and our country's future prosperity."
India is the world's fourth-largest energy consumer, with consumption expected to double by 2025. Natural resources already comprise half of Canada's exports to India. India's GDP is expected to grow at least six percent per year over the next five years, with the result that India's demand for energy will soon outweigh the current supply.
"Canada is well positioned to fulfil India's rapidly increasing need for energy, minerals, metals and wood products," said Minister Oliver. "We are demonstrating our commitment to strengthening relationships that achieve tremendous progress in trade, investment and scientific innovation."
Minister Oliver will reinforce Canada's role as a responsible energy supplier, advance Canada's opportunities to diversify natural resource exports to India, and promote the Government's plan for Responsible Resource Development.
Minister Oliver will meet with India's Minister of Petroleum and Natural Gas, Minister of New and Renewable Energy and Minister of Power. He will also address the Federation of Indian Chambers of Commerce and Industry to reinforce Canada's role as a responsible energy supplier and to advance Canada's opportunities to diversify natural resource exports to India.
The Minister will also participate in a roundtable with Delhi-based oil and gas companies to discuss investment opportunities in Canada, particularly as a potential exporter of liquefied natural gas. He will also deliver a keynote address to the International Seminar on Energy Access and meet with national leaders.
In addition, Minister Oliver will meet with companies already creating jobs in Canada through important investments in natural resources to speak with them about diversifying their investments. He will also meet with staff from the British Columbia Forestry Innovation Investment Limited. Exports of Canadian forest products to India have increased 141 percent since 2001.
"The ties between India and Canada are steeped in history and rooted in friendship, and to these bonds we are adding growing connections of cooperation in the natural resources sector," said Minister Oliver. "We are negotiating a Comprehensive Economic Partnership Agreement that could improve the size and scope of two-way trade that will create Canadian jobs."
A media advisory for an end-of-visit media availability will be issued later this week.
NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.