Trudeau meets with Indo-Pacific region leaders at APEC meeting to form trade agreements
by CM Staff
The Prime Minister also encouraged leaders to make ambitious commitments and investments that foster clean economic growth, and advance women's economic empowerment.
BANGKOK — On Nov. 18, Prime Minister Justin Trudeau concluded his participation in the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting hosted by Thailand, where he tried to position Canada as a partner to grow and diversify trade to create good, middle-class jobs on both sides of the Pacific, and strengthen ties between nations.
During the various APEC Leaders’ working sessions, including a session with the APEC Business Advisory Council, the Prime Minister promoted the expansion of regional market access, trade, and economic growth opportunities in the Indo-Pacific. He tried to underline Canada’s unique contributions to the region – as an energy security partner, a safe source of agriculture and agri-food, and a reliable exporter of natural resources, including the critical minerals needed in the clean energy transition. He also encouraged leaders to make ambitious commitments and investments that foster clean economic growth, and advance women’s economic empowerment.
As part of the upcoming release of Canada’s Indo-Pacific Strategy, the Prime Minister announced the following measures to expand trade, investment, and supply chain resilience in the Indo-Pacific to benefit people in the region and Canada alike:
- $45 million to launch a series of enhanced Minister-led trade missions to the Indo-Pacific to support exporters and regionally based Canadian Chambers of Commerce in Indo-Pacific markets to facilitate long-term trade and investment opportunities;
- $31.8 million to establish Canada’s first agriculture office in the region to increase and diversify agriculture and agri-food exports to the Indo-Pacific, strengthening trade on both sides of the Pacific; and
- $92.5 million to significantly expand capacity at Canada’s missions in the Indo-Pacific and within Global Affairs Canada to deepen diplomatic, trade, development, and climate ties with regional partners and defend Canadian interests in the region.
The Prime Minister also announced an investment of $13.5 million to expand natural resource ties with Indo-Pacific partners – in trade, investment, and science, technology and innovation.
While in Thailand, Prime Minister Trudeau endorsed the Bangkok Goal Declaration on the Bio-Circular-Green (BCG) Economy, a trade and investment model in support of the energy transition, ensuring that member economies remain environmentally and socially responsible when conducting business.
Throughout his meetings, the Prime Minister expressed his concern at the economic impact of Russia’s illegal invasion of Ukraine, which has created significant threat to global peace and stability. In the face of wider impacts caused by the invasion, including on food and energy security, global supply chains, and post-pandemic economic recovery, he underscored the importance of a united response to overcome the conflict’s impact on economic growth in the region.
“By opening new markets and opportunities for Canadian businesses, innovators, and entrepreneurs, and attracting investment to Canada in sectors like clean energy that will define the global economy, we are building an economy that works for all Canadians. I look forward to working with fellow APEC leaders to build on our success, and create even more opportunities for Canadians and all people in the Indo-Pacific region,” said Justin Trudeau, Prime Minister of Canada.
