Tridge summary
Canada is initiating trade negotiations with the Association of South East Asian Nations (ASEAN) with the support of its agricultural export organizations. The ASEAN bloc, which includes Indonesia, Malaysia, the Philippines, Singapore, Vietnam, Thailand, Brunei, Cambodia, Myanmar, and Laos, presents a market of over 640 million people and a gross domestic product of $3.6 trillion. The trade negotiations aim to strengthen Canada's existing agricultural export relationships with the region and to address non-tariff barriers for a more transparent trading system. In 2020, two-way trade between ASEAN nations and Canada reached $32.5 billion, with an additional $5.8 billion in services. A feasibility study anticipates a trade increase of $7.8 billion under freer trading conditions. Canadian exports that are expected to grow with a successful deal include canola, oilseeds, beef, pork, pulse crops, cereal grains, sugar, malt, and processed foods.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Canada’s export-oriented agriculture organizations were quick to cheer Canada’s announcement of trade deal negotiations with the Association of South East Asian Nations trading bloc. “As a market of over 640 million people with a (gross domestic product) of $3.6 trillion, Canadian agri-food exporters see huge potential in the fast growing and dynamic ASEAN countries,” said Dan Darling, president of the Canadian Agri-Food Trade Alliance after the Nov. 17 announcement. Cereals Canada chief executive officer Dean Dias said the region is already important for Canadian agricultural exports. “With this agreement we expect to strengthen our ties with customers in Southeast Asia while meeting the rising demand for staple food products in this dynamic fast-growing region,” said Dias in a statement. The ASEAN includes most major economies in the region. Its members are Indonesia, Malaysia, the Philippines, Singapore, Vietnam, Thailand, Brunei, Cambodia, Myanmar and Laos. It formed in 1967 ...
Source: The Western Producer
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