India-EU FTA shows how to counter tariff coercion, says Canada energy minister

India-EU FTA

• India-EU free trade pact praised as a pushback against tariff-based coercion
• Canada aims to boost energy exports to India and diversify supply chains
• India and Canada agree to expand cooperation in hydrocarbons and clean energy

Did our AI summary help?

The recently concluded India–European Union free trade agreement is a “perfect example” of pushing back against countries that use tariffs as a tool of economic coercion, Canada’s Minister of Energy and Natural Resources Tim Hodgson said on Januarya 27, during the India Energy Week in Goa.

Hodgson said the India–EU pact showed how economies can respond to growing protectionism by strengthening multilateral trade ties and diversifying supply chains. “What you just did with the EU, signing the ‘mother of all deals’, was a perfect example of how to say we believe in free trade and trusted relationships,” he said.

Hodgson stated that Canada is keen to boost energy exports to India in a bid to diversify its customer base and cut dependence on supply to the United States, he said Ottawa will "never use our energy for torture".

The comments came as Canada seeks to deepen energy and critical minerals trade with India. In a bilateral meeting on January 27, Hodgson and Petroleum Minister Hardeep Singh Puri agreed to expand cooperation across hydrocarbons and clean energy segments.

“Canada used to provide nearly all of its energy to one customer. We are committed to diversifying our supply, and we see a strong opportunity to work with India,” Hodgson said, adding that Canada could play a role in supporting India’s energy transition through the supply of critical minerals.

A joint statement issued by India’s Ministry of Petroleum and Natural Gas and Canada’s Ministry of Energy and Natural Resources said the two sides agreed to deepen bilateral energy trade, including the supply of Canadian LNG, LPG and crude oil to India, as well as exports of refined petroleum products from India to Canada.

(With PTI inputs)