Minister Boissonnault to attend APEC Finance Ministers’ Meeting in Bangkok, Thailand
News release
October 14, 2022 - Ottawa, Canada - Department of Finance Canada
Next week, from October 19 to 21, the Minister of Tourism and Associate Minister of Finance, the Honourable Randy Boissonnault, will attend the Finance Ministers’ Meeting of the Asia-Pacific Economic Cooperation (APEC) forum, in Bangkok, Thailand.
This year’s meeting will offer an opportunity to discuss some key current challenges, including the headwinds facing global and regional economic growth, and the persistence of global inflation.
Minister Boissonnault will use the meeting to express Canada’s condemnation of Russia’s war of aggression in Ukraine and its economic consequences. Minister Boissonnault will also share Canada’s views on priorities for the Asia-Pacific region, including with regards to sustainable finance, the transition to a net-zero economy, and the adoption of digitalization for economic success.
While in Bangkok, Minister Boissonnault will attend the Ministers’ Retreat, the plenary session, and a working lunch with the APEC Business Advisory Council.
Quotes
“The energy crisis resulting from the illegal, unprovoked, and unjustifiable Russian invasion of Ukraine, persistent inflation, and a sharp acceleration in the tightening of global monetary policy are taking a heavy toll on global economic prospects. In these difficult times, it is critical that Canada works with like-minded partners to find ways to mitigate the rise of the cost of living and foster economic growth, as well as encourage the transition to a green economy and ensure that Canadians can benefit and succeed in the digital economy.”
- The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance
Quick facts
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The Asia-Pacific Economic Cooperation (APEC) forum was established in 1989, and is the pre-eminent economic forum in the Asia-Pacific region.
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The 21 member economies of APEC—in which Canada is a founding member—are responsible for more than 60 per cent of global economic output, account for 47 per cent of world trade, and are home to 38 per cent of the world’s population.
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In 2020, APEC partners accounted for over 82 per cent of Canada’s total merchandise trade. Foreign direct investment from APEC economies in Canada was $564 billion in 2020. Four of Canada’s top five trading partners are APEC members (U.S., China, Mexico and Japan).
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Every year, one of APEC’s 21 member economies serves as the forum host. Thailand is APEC host for 2022, and the United States will be the host for 2023.
Associated links
Contacts
Media may contact:
Gabriel Felcarek
Press Secretary
Office of the Minister of Tourism and Associate Minister of Finance
343-573-4280
Gabriel.Felcarek@ised-isde.gc.ca
Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000
General enquiries
Phone: 1-833-712-2292
Facsimile: 613-369-4065
TTY: 613-369-3230
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