Minister Ng participates in Asia-Pacific Economic Cooperation trade ministers’ meeting in Detroit
May 26, 2023 - Detroit, Michigan - Global Affairs Canada
International forums such as the Asia-Pacific Economic Cooperation (APEC) provide Canada with an opportunity to advance trade priorities, such as building a resilient and interconnected Asia-Pacific region that advances economic prosperity and supports a sustainable future and equitable future for all.
On May 25 and 26, 2023, the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, attended the APEC Ministers Responsible for Trade Meeting in Detroit, Michigan.
The Minister also announced Canada’s contribution of $1.2 million to the APEC sub-funds to strengthen small business’ ability to engage in the global economy and support regional efforts to combat marine debris.
Minister Ng participated in a session with her counterparts where she encouraged APEC members to support a rules-based multilateral trading system with the WTO at its core. She discussed Canada’s key priorities for a strong outcome at the WTO’s 13th Ministerial Conference, which is scheduled for early 2024.
During a working session on fostering inclusive and sustainable trade within APEC, Minister Ng discussed Canada’s efforts to create more opportunities for workers and ensure that everyone benefits from trade. On the margins of the APEC meeting, Minister Ng participated in a discussion about the link between trade, workers and the benefits of innovation.
In a series of bilateral meetings, Minister Ng spoke with Yasutoshi Nishimura, Japan’s Minister of Economy, Trade and Industry, and shared that she will lead the Team Canada Trade Mission to Japan from October 30-November 3. During a meeting with Taiwan they confirmed that in a couple weeks Canadian beef exporters will have full access to the Taiwanese market. The minister also met with her counterparts from Indonesia, New Zealand and Philippines and the Director-General of the WTO, Ngozi Okonjo-Iweala.
Minister Ng also spoke with other ministers representing members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) where she welcomed Ukraine’s application to join the Agreement.
Minister Ng demonstrated Canada’s leadership on global issues and advocated for greater regional economic integration, sustainable growth and inclusive trade liberalization that benefits all groups in society.
“APEC was founded on the goal of increasing economic opportunities to support prosperity for all. Canada is committed to contributing meaningfully to APEC on priorities such as supporting sustainable and inclusive economic growth through a strengthened and modernized rules-based multilateral trading system.”
- Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development
Canada is a founding member of APEC, which has 21 member economies.
Established in 1989, APEC promotes economic growth and prosperity in the Asia-Pacific region.
In 2021, APEC’s 21 member economies accounted for 48% of world trade.
In 2022, APEC’s members accounted for 62% of global nominal economic output and were home to 38% of the world’s population.
In 2022, foreign direct investment from APEC economies in Canada amounted to $701 billion. Four of Canada’s top 5 trading partners—China, Mexico, Japan and the United States—are APEC members.
North America is one of the largest economic regions in the world, encompassing a $39-trillion regional market of around 500 million consumers.
Canada and the United States share one of the largest trading relationships in the world, with over $1.3 trillion of bilateral trade in goods and services in 2022, making Canada the United States’ largest trading partner.
Canada and the United States are each other’s top sources of imported energy.
Canada is a co-champion of the 2023 APEC Bio-Circular-Green Award, which recognizes individuals and organizations that have implemented sustainable and inclusive growth policies. Winners in 3 categories—Youth, Women and Micro-, Small and Medium-Sized Enterprises—will be announced at the APEC Leaders’ Summit in November.
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