- Sunday marked history as Minister Ng joined Ministers Joly, Sajjan, and Mendicino, along with Members of Parliament Parm Bains, Wilson Miao, and Taleeb Noormohamed, to unveil Canada’s Indo-Pacific Strategy. The strategy has five pillars:
o Promoting peace, security and resilience
o Expanding trade, investment and supply chain resilience
o Investing in and connecting people
o Building a sustainable and green future
o Canada as an active and engaged partner to the Indo –Pacific
- The world’s fastest-growing region, the Indo-Pacific has four billion people and 40 economies. Canada already has strong trade agreements in the region, and through the strategy we are establishing a Canadian Trade Gateway in Southeast Asia, growing Team Canada Trade Missions, investing in sustainable local infrastructure, strengthening our supply chains, and increasing export diversification. We look to expand Canada’s trade network at home and abroad, enhance rules-based trade that provides predictability for economies and exporters and increase free trade access.
- In Mexico, Minister Ng joined the Pacific Alliance Summit and launched exploratory talks toward a potential free trade agreement between Canada and Ecuador. Canada and Ecuador are important commercial partners in the hemisphere and growing two-way trade between our countries will provide investment opportunities for Canadian and Ecuadorian companies alike. At the Summit, Minister Ng also advocated for and received support to soon elevate Canada to Associated State status, meaning deeper economic and trade ties with these key partners in Latin America.
- Minister joined the Prime Minister at the ASEAN Summit to meet with world leaders and advocate for Canadian trade interests. While at the Summit, Canada and ASEAN committed to elevate our relationship to a strategic partnership. Canada announced new investments including:
o $24.1 million to establish the Canadian Trade Gateway in Southeast Asia. The Gateway will enhance our presence in the Indo-Pacific by an establishing an enhanced trade hub that will expand Canada’s business and investment networks.
o $13.1 million to the ASEAN-Canada Plan of Action Trust Fund to deepen engagements and our partnerships with ASEAN and support the participation of ASEAN member states in negotiations toward a Canada-ASEAN free trade agreement
o $24.5 million for a new Asia Pacific Foundation of Canada office in the region to expand relations with local partners
- Minister Ng and the Prime Minister also travelled to Indonesia for this year’s G20 Leaders’ Summit. Members of the G20 represent 80% of the world’s GDP, 75% of global trade, and 60% of the world’s population. The Minister used this opportunity to underscore the $750 million contribution that will bring Development Finance Institute Canada to the Indo-Pacific for the first time, expanding Canada’s investment and assistance in sustainable, quality infrastructure projects across developing countries.
- The Minister participated in this year’s APEC Economic Leaders’ Meeting in Thailand. These meetings are an important opportunity to advance Canada’s economic growth, and strengthen Canada’s ties in the Indo-Pacific. This work will continue opening doors for our businesses, creating good jobs, and building trade opportunities that drive a sustainable future. Part of this work included announcing the following initiatives:
o $45 million to launch a series of Team Canada trade missions to the Indo-Pacific
o $31.8 million to establish a dedicated agriculture and agri-food office in the Indo-Pacific
o $13.5 million to expand Canada’s ties with Indo-Pacific partners on natural resources
o $92.5 million to expand the capacity of Canada’s missions in the Indo-Pacific and at home to deepen ties with regional partners