ASEAN as Canada’s Key to the Indo-Pacific: Implications for Businesses

ASEAN is Canada’s 6th largest trading partner and is projected to be the world’s 4th largest economy by 2030. As ASEAN is increasingly important in the global stage given its strategic role in global trade routes and regional affairs, it is not a surprise that the region is seen as a key partner in Canada’s trade diversification and engagements in the Indo-Pacific region. In 2021, Canada launched official negotiations for two free trade agreements: The Canada-ASEAN FTA and the Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA) – signifying the commitment that Canada has made to bilateral trade with the region.

As Canada and ASEAN celebrate the 45th anniversary of their relationship, the CABC explores how the two regions can strengthen the partnership for shared prosperity and the implications for businesses in their strategy planning to reap the benefits of closer ties and trade diversification.