ASEAN, Canada launch negotiations for Free Trade Agreement
The launch of negotiations for an ASEAN-Canada Free Trade Agreement (FTA) was officially announced at the 10th ASEAN Economic Ministers – Canada Consultation on November 17.
Jakarta (VNA) –The launch of negotiations for an ASEAN-Canada Free Trade Agreement (FTA) wasofficially announced at the 10th ASEAN Economic Ministers – CanadaConsultation on November 17.
The launch of negotiationsillustrates the growing depth of ASEAN-Canada economic ties and the importancethat each side places on deepening the bilateral relationship, the Secretary ofASEAN said in a press release.
This also represents a significant milestone in the ASEAN-Canada relationshipand a meaningful step in Canada’s renewed commitment to trade and economicengagement in the region, it said.
According to the SecretaryGeneral of ASEAN Dato Lim Jock Hoi, theFTA would strengthen ASEAN-Canada economic relations, connect ASEAN closer tothe global value chains, and improve market access for both ASEAN and Canadianfirms.
The announcement builds onstrong economic relations between ASEAN and Canada, which has witnessed asteady growth since the establishment of the official dialogue relationship in1977.
In the past year, bilateraltrade relations between the two sides remained strong despite the COVID-19pandemic and its impact on the global economy. According to Canada’sstatistics, in 2020 total two-way merchandise trade was valued at 19.9billion USD, reflecting a slight decrease of 2.4 percent year-on-year.
The stock of foreign directinvestment (FDI) from Canada to ASEAN Member States reached 12.5 billion USD,an increase of 11.7 percent year-on-year, while the stock of FDI from ASEANMember States to Canada was 1.2 billion USD, a decrease of 0.9 percent year-on-year./.
A free trade agreement between the Association of Southeast Asia Nations (ASEAN) and Canada will be a win-win for all sides, particularly in the context of economies that are struggling to come out of the pandemic, Canada’s Prime Minister Justin Trudeau has said.
Prime Minister Pham Minh Chinh had separate meetings with his Canadian counterpart Justin Trudeau and Zambian President Hakainde Hichilema on November 2 on the sidelines of the 26th United Nations Climate Change Conference of the Parties (COP26).
Thailand’s Cabinet on November 9 approved the negotiation framework for the ASEAN-Canada free trade agreement (FTA), hoping the pact will help open a gateway for Thailand to enter North America.
ASEAN member countries and Canada have agreed to launch negotiations on a free trade agreement (FTA) during the ASEAN Economic Ministers (AEM) – Canada Consultation which was held virtually on November 17.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
At the event. (Photo: asean.org) 
