Canada’s Parliamentary Secretary to the Minister of International Trade, Yasir Naqvi, concluded his participation in the Fourteenth Association of Southeast Asian Nations (ASEAN) Economic Ministers-Canada Consultation, in Kuala Lumpur, Malaysia last week.<\/p>\n
During the consultation, ministers noted the ongoing progress of the ASEAN-Canada Free Trade Agreement (ACAFTA) negotiations.<\/p>\n
Recognising the significant potential of the ACAFTA to enhance trade and investment flows, strengthen supply chain resilience, and promote long-term economic prosperity, the Ministers reaffirmed their shared commitment to concluding a high-quality, comprehensive, and mutually beneficial Agreement as soon as possible in 2026.<\/p>\n
The Ministers urged officials to intensify their efforts with a view to finding mutually acceptable solutions that would reflect the interests and sensitivities of all Parties.<\/p>\n
Canada and ASEAN launched negotiations toward a free trade agreement in 2021. Established in 1967, ASEAN comprises 10 Southeast Asian States: Brunei, Cambodia, Indonesia, Lao People’s Democratic Republic Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (Canada and Indonesia concluded and signed a two-party free trade agreement expected to come into force in 2026, once both countries complete their domestic ratification processes).<\/p>\n