Expanding Canada’s trade and investment opportunities in Southeast Asia’s fastest-growing economy will diversify Canada’s trade portfolio and support our economic recovery from the COVID-19 pandemic.
Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, announced the launch of public consultations toward a possible comprehensive economic partnership agreement (CEPA) between Canada and Indonesia.
As a trading nation, Canada is committed to strengthening the rules-based international trading system. A CEPA between Canada and Indonesia is expected to benefit importers and exporters of goods and services, as well as investors and consumers, by improving market access to the world’s fourth-most-populous country. It would also increase the transparency and predictability of trade and investment for Canadian businesses in this important market.
This consultation provides an opportunity for Canadians far and wide to share their views on the merits of a Canada-Indonesia CEPA. Canadians across the country and abroad are encouraged to participate in the public consultation process, which will take place until February 23, 2021. To share your views, please visit Global Affairs Canada’s consultations web page.
We are committed to ensuring that all Canadians have access to the benefits and opportunities that flow from international trade and investment. We invite traditionally under-represented groups, such as women, small businesses, members of the lesbian, gay, bisexual, transgender, queer and others community, and Indigenous peoples to take part in this consultation process.
“Canada is committed to diversifying trade across the Asia-Pacific region to create new trade and investment opportunities for all Canadians. Deepening trade ties with Indonesia would benefit Canadian businesses of all sizes and lead to economic growth and prosperity for years to come.”
– Mary Ng, Minister of Small Business, Export Promotion and International Trade
Indonesia is the largest export market for Canada in Southeast Asia and a key destination for Canadian investment in the region.
Indonesia is the largest economy in Southeast Asia, with a GDP of $1.4 trillion and is Canada’s third-largest trading partner in the region.
Bilateral merchandise trade between Canada and Indonesia reached a total value of $3.7 billion in 2019.
Indonesia is the second-largest destination for Canadian direct investment in the region, with a value totalling $3.84 billion at the end of 2019.