Minister Ng concludes productive ASEAN, G20 and APEC meetings

From: Global Affairs Canada

News release

November 20, 2022 - Ottawa, Ontario - Global Affairs Canada

This week, the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, concluded another trip to the Indo-Pacific region, during which she accompanied Prime Minister Justin Trudeau at the ASEAN Summit, the G20 Leaders’ Summit and the APEC Economic Leaders’ Meeting.

In Cambodia, Minister Ng joined the Prime Minister at the ASEAN-Canada 45th Anniversary Commemorative Summit. There, Canada and ASEAN committed to elevate Canada’s status to a Strategic Partnership – an enhanced level of relations with ASEAN and a strong demonstration of ASEAN countries’ endorsement of Canada’s engagement in the region.

The Prime Minister also announced several key initiatives that will expand Canada’s partnerships in the Indo-Pacific region, including $24.1 million to establish the Canadian Trade Gateway in Southeast Asia, an enhanced trade hub that will expand Canada’s business and investment networks in the region; $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; and $24.5 million for a new Asia Pacific Foundation of Canada office in the region to expand relations with local partners.

Joining the Prime Minister in Indonesia, for the G20 Leaders’ Summit, Minister Ng underscored commercial benefits of the Prime Minister’s announcement of a $750 million contribution that will bring Development Finance Institute Canada (FinDev Canada) to the Indo-Pacific for the first time, expanding Canada’s investment and assistance in sustainable, quality infrastructure projects across developing countries. Canada, through the Canadian Commercial Corporation, also signed two memorandums of understanding with Indonesia for Canadian businesses to develop Indonesia’s airport infrastructure and supply critical agricultural products to maintain food security.

At the APEC Ministerial Meeting in Thailand, Minister Ng reiterated Canada’s commitment to APEC. She joined the Prime Minister to announce that Canada was providing $45 million to launch a series of Team Canada trade missions to the Indo-Pacific; $31.8 million to establish a dedicated agriculture and agri-food office in the Indo-Pacific; $13.5 million to expand Canada’s ties with Indo-Pacific partners on natural resources; and $92.5 million to expand the capacity of Canada’s missions in the Indo-Pacific and at home within Global Affairs Canada to deepen ties with regional partners. The Minister also endorsed the Canada-Chile Joint Declaration on Investment Treaty Practice to strengthen the 2 countries’ trade and investment ties.

Throughout the trip, Minister Ng met with numerous heads of state, counterparts and other senior government officials. She continued to advocate for a rules-based international trading system and promote Canada as a strong trade and investment partner. 

Quotes

“The Indo-Pacific region is critical to the future of Canada’s economic growth and resilience. That is why our government is making historic investments to increase the Canadian presence in the region, which will create new opportunities for Canadian companies and well-paying Canadian jobs.”

- Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development

Quick facts

  • APEC

    • Canada is a founding member of APEC, which comprises 21 member economies. Established in 1989, APEC promotes economic growth and prosperity in the Asia-Pacific region. Thailand is APEC host for 2022.
    • APEC’s 21 member economies account for 62% of global economic output and 48% of world trade and are home to 38% of the world’s population.
    • In 2021, foreign direct investment from APEC economies in Canada amounted to $610 billion. Four of Canada’s top 5 trading partners are APEC members (United States, China, Mexico and Japan).

  • ASEAN

    • ASEAN is a regional intergovernmental organization comprising 10 Member States. Established by Indonesia, Malaysia, the Philippines, Singapore, and Thailand in 1967, it was later joined by Brunei, Cambodia, Laos, Myanmar, and Vietnam.
    • Together, ASEAN Member States represent the fifth largest economy in the world (combined GDP of US$3.3 trillion). With 666 million people, ASEAN has the third largest population in the world.
    • As a group, ASEAN Member State economies represent Canada’s fourth-largest merchandise trading partner. In 2021, Canada-ASEAN merchandise trade was valued at CAD$31.6 billion.
    • Canada has been an ASEAN Dialogue Partner since 1977 and will be seeking early completion of the commitment to establish an ASEAN-Canada Strategic Partnership (SP).
    • In 2021, Canada launched negotiations toward a Free Trade Agreement (FTA) with ASEAN. The ASEAN-Canada FTA would be the foundation for a more strategic ASEAN-Canada relationship that drives economic growth, innovation, and job creation on both sides of the Pacific.

  • G20

    • The G20 is an important platform to discuss global economic, financial and trade policy issues. G20 members are the world’s major economies and represent all inhabited continents, and account for 80% of world GDP, 75% of global trade, and 60% of the world’s population.
    • Canada last hosted the G20 Summit in 2010. Indonesia holds the presidency in 2022, and India will hold it in 2023.
    • The G20 includes Argentina, Australia, Brazil, Canada, China, Germany, the European Union, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States. Indonesia invited Spain, Singapore, the Netherlands and the United Arab Emirates to participate in the G20 as guests this year.

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Contacts

Shanti Cosentino
Press Secretary
Office of the Minister of International Trade, Export Promotion, Small Business and Economic Development
343-576-4365
Shanti.Cosentino@international.gc.ca

Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
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