Canada Brief

by | Nov 5, 2025 | Articles

Canada Brief

“The world is changing rapidly, and Canada must dramatically change its economic strategy. We must make generational investments to build our economy at home and work relentlessly to diversify our trade partnerships abroad. Now is not the time to be cautious, because fortune favours the bold. Now is the time to bet big on Canadians and play to win.”

  • The RT. Hon. Mark Carney, Prime Minister of Canada

CANADA EXPANDS TRADE PARTNERSHIPS WITH ASEAN COUNTRIES

On October 27, 2025, Prime Minister Carney attended the Association of Southeast Asian Nations (ASEAN) conference at Kuala Lumpur, Malaysia.

The ASEAN countries are Brunei Darussala, Burma, Cambodia, Indonesia, Laos, Malaysia, Singapore, Thailand, Timor and Vietnam.

There he met with world leaders and investors to strengthen trade, technology, and energy partnerships, including the CEO of PETRONAS. PETRONAS is one of the world’s largest energy companies and a major investor in LNG Canada Phase 1 – the liquified natural gas facility in Kitimat, British Columbia. With Phase 2 of this project now referred to the Major Projects Office, the government is exploring new opportunities to expand our partnership and strengthen Canada’s role as a reliable energy supplier.

This is the Prime Minister’s first official visit to the Indo-Pacific region, including Malaysia.

  • The ASEAN region is Canada’s second-largest trading partner with over $260 billion in two-way trade value merchandize trade, yet it represents only 10% percent of or exports.
  • The ASEAN region is a major global market of nearly 700 million people, and an economy worth over $5 trillion.
  • As a group, ASEAN is Canada’s fourth largest merchandize trade partner, with an annual two-way trade value at $42.3 billion in 2024.
  • Canada and ASEAN are accelerating negotiations for a Canada-ASEAN free trade agreement. This agreement would add over $1.5 billion to our economy, economy, giving Canadian workers and businesses access to nearly 700 million consumers and an over $5 trillion market. Negotiations are anticipated to conclude in 2026.
  • In September, Canada announced a new trade agreement with Indonesia. Canadas first ever bilateral trade agreement with an ASEAN country. This agreement will either reduce or fully eliminate tariffs on over 95% of current Canadian exports to Indonesia.
  • On the sidelines of the conference, Canada and Malaysia discussed and signed a Letter of Intent to deepen investment in liquified natural gas, oil, nuclear and renewable energy.
  • Canada and Philippines announced their intent to imminently launch negotiations on a new free trade agreement by the end of 2026.