Canada and ASEAN to hold exploratory talks about a free trade agreement

At the sixth ASEAN Economic Ministers-Canada Consultation last week in Manila, representatives of the ASEAN member states and Canada agreed to launch exploratory discussions to determine the potential for an ASEAN-Canada free trade agreement (FTA).

The announcement follows the completion of a preliminary feasibility study on the merits of a free trade agreement between Canada and the ASEAN region.

This preliminary study provides an overview of the ASEAN and Canadian economies. It highlights key bilateral trends in terms of trade in goods, services and investment and examines each party’s broader approach to FTA negotiations. It also evaluates the potential benefits of an ASEAN-Canada FTA.

The members of of the Association of Southeast Asian Nations (ASEAN) are Brunei, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

In 2016, Canada-ASEAN merchandise trade reached a value of $21.6 billion.

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