Commerce and Industry Minister Piyush Goyal signaled on Wednesday that the finalisation of an Early Progress Trade Agreement or EPTA with Canada may be possible this year.

During the course of a media interaction in Toronto, Goyal, who is on a bilateral visit to Canada, said that getting the deal done in 2023 is “not beyond the realm of possibility.”

“I’m usually very optimistic, I do wish it’s much faster than that,” he added. “We’re working to ensure early conclusion to the Early Progress Trade Agreement which we believe will send a strong signal to business on both sides, in terms of our desire of leaders of both Governments to expand business and investment partnerships,” he stressed.

He said that his discussions with his Canadian counterpart, International Trade Minister Mary Ng “even though informal, were quite substantive and have moved the needle on a fast-track basis.”

Goyal also said “speed” was of the essence, but didn’t want to set a deadline for the concluding the pact, as it “pays to be pragmatic and practical and careful.”