2 October 2013
Ottawa, Ontario
The 21 leaders of the Asia-Pacific Economic Cooperation (APEC) economies will meet in Nusa Dua, Bali, Indonesia, on October 7 and 8, 2013. Under the theme “Resilient Asia-Pacific—Engine of Global Growth,” the leaders will discuss three priorities identified by the Indonesian Chair:
- Attaining the Bogor Goals;
- Achieving sustainable growth with equity; and
- Promoting connectivity.
Attaining the Bogor Goals
APEC economies continue to work together to maintain momentum in achieving free and open trade and investment liberalization and facilitation in the region by 2020, which was agreed to at the 1994 APEC Leaders’ Meeting in Bogor, Indonesia, and within the framework of the APEC Leaders’ Bogor Declaration (the so-called Bogor Goals) and the APEC Leaders’ Statement in 2010.
In 2013, APEC’s efforts to realize the Asia-Pacific region’s full potential will be focused on creating deeper regional economic integration through: strengthening the multilateral trading system; trade and investment liberalization and facilitation, in particular in the services sector; and ongoing capacity-building through the Leaders’ Agenda to implement the 2011 commitments on structural reform.
Overall, Canada has made significant progress in meeting the Bogor Goals. Examples include new initiatives for streamlining and expediting customs procedures and reducing business-related red tape, as well as significant investments in and development of Canada’s Asia-Pacific Gateway and Corridor. Canada has also implemented, well in advance of the 2015 timeframe, its commitment of reducing tariffs on 54 Environmental Goods as agreed to by APEC leaders in 2012 and also announced measures to raise the Investment Canada Act review threshold for private sector investors who are headquartered in World Trade Organization (WTO) member countries.
Canada’s pro-trade agenda includes participation in a number of free trade initiatives that are aimed at broadening and deepening our trading relationships with high-growth Asia-Pacific markets. The most comprehensive of these initiatives is the 12-member Trans-Pacific Partnership (TPP) negotiations, representing a market of more than 792 million people and a combined GDP of $27.5 trillion. In addition, Canada is an observer in the Pacific Alliance and is interested in joining the East Asian Summit. Canada is negotiating an Economic Partnership Agreement with Japan and a Free Trade Agreement (FTA) with Korea. Exploratory discussions towards an FTA with Thailand are underway and Canada is committed to deepening economic relations with China. In addition, Canada is strengthening economic integration initiatives with the Association for Southeast Asian Nations (ASEAN). Canada is committed to achieving meaningful outcomes at the 9th Ministerial Conference of the World Trade Organization, which will be held in Bali in December. Concrete results, including an agreement on trade facilitation, are essential to preserving and advancing broader multilateral negotiations under the WTO Doha Development Agenda.
Achieving Sustainable Growth with Equity
As APEC’s work under the Leaders’ Growth Strategy of 2010 progresses, APEC economies continue to aim for growth that is sustainable and inclusive.
In 2013, APEC’s work in this area has focused on developing a set of actions aimed at responding to global economic and financial challenges. This is being undertaken by enhancing the global competitiveness of small- and-medium-sized enterprises, through innovation and by promoting women’s productivity in the economy, as well as working on ensuring financial inclusion, strengthening food security, and improving access to health services. Canada remains supportive of all these measures.
Canada has played a key role in promoting sustainable global growth and financial literacy in APEC, by being a key speaker on the topic of financial literacy, as well as helping to ensure that individuals have the tools and knowledge to make responsible financial decisions that contribute to their personal well-being and to the strength and stability of the financial system as a whole. Canada is able to effectively share its own experiences on financial literacy with other APEC economies.
Promoting Connectivity
The commitment of enhancing supply chain connectivity, as declared by APEC leaders in Singapore, 2009, is a firm acknowledgement of the importance of strengthening connectivity in the region, and Canada continues to support this commitment.
In 2013, APEC’s work on connectivity will be focused on physical connectivity, institutional connectivity, and people-to-people connectivity. APEC’s efforts to strengthen connectivity will be promoted by presenting leaders with some key deliverables, including: 1) a framework on connectivity; 2) an APEC Multi-Year Plan on infrastructure investment and development; 3) an emergency response travel facilitation work plan; 4) a cross-border education cooperation work plan; and 5) an action plan for the travel facilitation initiative launched in 2010. Canada is supportive of all these actions.
Canada-APEC trade connectivity has also been advanced through the efforts of Canada’s export credit agency, Export Development Canada (EDC), and Canada’s Trade Commissioner Service. Over the two-year period of 2011–2012, EDC’s financial services facilitated more than $40 billion worth of Canadian export trade and investment with Asia. This included specific matchmaking measures that were undertaken with the Trade Commissioner Service, which was dedicated to deepening Canadian businesses’ involvement in Asian global supply chains. Two-way investment linkages have also been strengthened through EDC’s ongoing provision of financial services to encourage Canadian direct investment abroad and qualified foreign direct investment by APEC business interests in export-oriented sectors of Canada’s economy.
In July 2013, Canada pledged $4.5 million over three years for an ASEAN infrastructure centre of excellence based in Singapore. It will facilitate the pioneering of private-public partnerships devoted to ASEAN-wide connectivity.
Canada has also improved connectivity for both citizens and visitors through a number of passport and visa initiatives, including the introduction of a ten-year ePassport. This ePassport is in compliance with the recommended practices of the International Civil Aviation Organization, which includes a ten-year multiple entry visa for regular visitors, and the addition of visa application centres around the world to expedite visa processing.
Closer to home, Canada and the United States are working together, through the Regulatory Cooperation Council’s Joint Action Plan, to remove unnecessary cross-border requirements and align standards between the two countries. The aim is to reduce supply chain steps and make it easier for Canadian and American companies to do business on both sides of the border.
Domestically, Canada has invested in Asia-Pacific Gateway and Corridor Initiatives in order to spur connectivity within the Asia-Pacific region. Since 2006, the Government of Canada has partnered with all four western provinces, municipalities and the private sector to announce Asia-Pacific Gateway infrastructure projects worth more than $3.5 billion, including federal contributions of over $1.4 billion. This includes the September 2013 announcement to strengthen the border, improve marine container inspection capacity, and improve efficiency.
Other domestic initiatives help support APEC’s physical connectivity pillar. In Budget 2013, the Government of Canada announced the creation of a $53 billion New Building Canada Plan that utilizes new and existing funding for provincial, territorial and municipal infrastructure over the next 10 years, starting in 2014–2015. This is the largest and longest federal investment in public infrastructure in Canadian history. Infrastructure development is invaluable to the extension and growth of global value chains and increases the competitiveness of Canadian products.
Canada’s people-to-people connectivity is enriched by a large diaspora from the Asia-Pacific region, including roughly 544,000 Canadians from South, Central and Latin America, 1.5 million Chinese Canadians, and 1.2 million Canadians from other parts of East and Southeast Asia. The natural people-to-people linkages between members of the diaspora and their home countries enrich Canada’s social fabric and reinforce trade, education, and travel connectivity in the region.
Canada’s international student population has continued to grow in recent years, reaching 265,400 in 2012. The students’ participation in Canada creates jobs and stimulates economic growth, as well as strengthens our people-to-people ties with other countries.
Canada also supports improved mobility and cooperation in the higher education sector by encouraging higher education institutions to develop partnerships in the region in support of greater student mobility, research collaboration, joint degrees and transferability of academic credits.
