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The Economic Times Ahmedabad, Canada Scouting India for JVs in Power, Telecom Sector, Wed. 29, March, 1995

Canada is looking for collaboration in areas like power generation, telecommunication, food processing, environmental services and goods etc, according to Mr. Herbert M. Brownstein of M/s Brownstein & Associates, a prominent law firm of Canada.

Speaking on "promotion of two way trade and collaboration between India and Canada as also opportunities for investors and entrepreneurs in Canada for immigration", organised by the Gujarat Chamber of Commerce and Industry here on Tuesday, Mr. Brownstein said that although India had vast scope for bilateral trade with Canada, the two-way trade however, was confined to only 600 million dollars with China, during 1993. India ranked 26th on the list of import export business as per the latest informations available.

He said that the Canadian commercial interest in South Asia had grown exponentially over the past five years. This interest began to be translated into actual business contracts, especially in India. The Canadians were now actively seeking and pursuing partnerships, joint ventures and licence agreements with Indian companies in order to sell their technology which was of special interest.

According to him, there is a tremendous opportunity in the agri food sector in fruit juices and concentrates sector which would offer scope for joint ventures.

Referring to automobile trade, he said that at present the price of cars restricted sales primarily to companies, business executives and the government. However, there were opportunities for Canadian and Indian companies to collaborate together in two general areas including collaboration with an Indian automotive parts manufacturer for production of labour intensive sub-components on a buy back basis.

With liberalisation, the previously closed home markets in Asia were opening up gradually. Over the next 5-10 years there should be a rapid expansion in trade in construction products. Canada's major export market continues to be the United States, said Mr. Brownstein.

Earlier, Mr. Prashant Ajmera of Brownstein Brownstein & Associates (Authorised representatives of the Canadian Imperial Bank of Commerce) in his address explained rules and regulations of immigration (temporary and permanent) and visas for those seeking entry into Canada.

Canada, one of the G-7 countries, gained the first position in the world by recording the highest economic growth rate of 2.5 per cent during 1994.



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