On September 20, 2024, Canadian Minister of Export Promotion, International Trade and Economic Development, addressed her recent trip to the Association of Southeast Asian Nations (ASEAN) and emphasized the importance of enhancing trade relations with China. The discussions focused on building resilient supply chains in light of ongoing global economic uncertainties.
The Minister highlighted the significance of ASEAN as a vital trade partner for Canada, particularly in diversifying supply chains that have been impacted by recent global events. Strengthening these ties is seen as crucial for ensuring economic stability and resilience against future disruptions.
This initiative is expected to have broader implications for international trade dynamics, as countries seek to navigate the complexities of global supply chains and geopolitical tensions. The Canadian government's proactive stance aims to bolster its economic relationships in the Asia-Pacific region, thereby enhancing Canada's role in global trade.
Source: Bloomberg