Minister Ng promotes trade and investment ties at Association of Southeast Asian Nations economic ministers meeting in Lao People’s Democratic Republic
News release
September 23, 2024 - Ottawa, Ontario - Global Affairs Canada
Over the weekend, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, concluded her participation in the 13th Association of Southeast Asian Nations (ASEAN) Economic Ministers-Canada Consultation, in Vientiane, Lao People’s Democratic Republic (PDR).
During the consultation, Minister Ng highlighted the progress Canada and ASEAN member states have made toward an ASEAN-Canada free trade agreement, and underscored the importance of intensifying efforts to conclude the agreement negotiations in 2025.
At the meeting, Minister Ng and ASEAN partners discussed the increased trade and economic cooperation since the launch of Canada-ASEAN Strategic Partnership a year ago, including the advancement of initiatives under Canada’s Indo-Pacific Strategy in key areas such as inclusive trade, digital trade, agriculture and agri-food and sustainability.
The Minister also acknowledged the Canada-ASEAN Business Council’s participation in the consultations and recognized its support of Canada’s commitment to creating new opportunities for Canadian businesses and investors.
On the margins of the consultations, Minister Ng also interacted with several international partners to advance discussions on trade priorities of mutual interest.
These included:
- Malaithong Kommasith, Minister of Industry and Commerce, Lao PDR
- Tengku Zafrul Abdul Aziz, Minister of Investment, Trade and Industry, Malaysia
- Filipus Nino Pereira, Minister of Commerce and Industry, Timor-Leste
- Kao Kim Hourn, Secretary-General of ASEAN
- Cham Nimul, Minister of Commerce, Cambodia
- Helene Budliger Artieda, State Secretary for Economic Affairs, Switzerland
- Tim Ayres, Assistant Minister for Trade, Australia
- Douglas Alexander, Minister of State (Minister for Trade Policy and Economic Security), the United Kingdom
Quotes
“These in-person engagements in the Lao PDR were an excellent opportunity for us to continue strengthening the ASEAN-Canada bilateral commercial relationship and contribute to our mutual economic prosperity and growth. Canada will keep working with ASEAN partners to deepen trade ties that will benefit Canadian businesses and workers, create good jobs and generate strong, inclusive and sustainable economic growth from coast to coast to coast.”
- Mary Ng, Minister of Export Promotion, International Trade and Economic Development
Quick facts
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Together, ASEAN member states have the third-largest population in the world at around 679 million inhabitants and growing (based on 2023 data).
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If ASEAN were 1 economy, it would be the fifth largest in the world, with a combined nominal GDP of $5.15 trillion in 2023.
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ASEAN is one of the world’s fastest-growing economic regions, with an estimated real GDP growth rate of 4.3% for 2023 and a projected rate of 4.7% for 2024, according to the Asian Development Bank.
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As a group of countries, the 10 member states of ASEAN represent Canada’s fourth-largest merchandise trading partner in 2023.
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Canada-ASEAN bilateral merchandise trade reached $38.8 billion in 2023.
Related products
Associated links
- Canada-ASEAN free trade agreement
- Canada and the ASEAN
- ASEAN Outlook on the Indo-Pacific
- Canada’s Indo-Pacific Strategy
- Joint Leaders’ Statement on ASEAN-Canada Strategic Partnership
- Prime Minister visits Indonesia, welcomes a new chapter in the Canada-ASEAN relationship
- Minister Ng concludes successful meetings in Indonesia with ASEAN economic ministers
Contacts
Huzaif Qaisar
Press Secretary
Office of the Minister of Export Promotion, International Trade and Economic Development
343-575-8816
Huzaif.Qaisar@international.gc.ca
Media Relations Office
Global Affairs Canada
media@international.gc.ca
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