Logo of Phnom Penh Post newspaper Phnom Penh Post - Canada, Asean to talk FTA

Canada, Asean to talk FTA

Canada, Asean to talk FTA

Canada has agreed to commence exploratory discussions on a Free Trade Agreement (FTA) with the 10 member nations that make up Asean, according to an announcement by the Canada-Asean Business Council (CABC).

The announcement comes after Canadian officials held consultation meetings with delegates of Asean member states during the ninth meeting of the Asean Economic Ministers in Manila last weekend, with the two sides agreeing to launch formal feasibility studies for a Canada-Asean FTA. Canada first began discussions on a FTA with Asean in 2016.

“This move is an indication that Canada and Asean firmly recognise the immense potential that awaits deeper economic integration between our regions, and that the political will exists to move an agreement across the line quickly,” CABC said in a statement.

“Asean now joins China as one of Canada’s major potential FTA partners in the exploratory discussion phase,” it added.

A CABC report published in May, a bilateral trade agreement with Asean could generate between $3.9 billion to $8.9 billion in additional trade in the first 10 years.
.

MOST VIEWED

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • ‘Bad news is an investor’s best friend’ – unlocking investment potential in Cambodia

    It is time to shop. Economic woes provide good pickings for investors if they know where to look The poem If, written by English Nobel laureate poet and novelist Rudyard Kipling for his son circa 1895, is widely perceived as fatherly advice for John who would

  • First ‘mobile kitchen’ in Cambodia enters service

    A catering company recently rolled out Cambodia’s first “mobile kitchen” – a $50,000 container capable of serving up to 200 people at a time. The kitchen is the brainchild of Seng Hok Heng Catering Services. At 4.4m-high, 6.8m-long and 2.4m-wide (expandable to 6.8m), the kitchen is equipped

  • Kingdom, China rebut basis for US sanctions

    The Council for the Development of Cambodia, the Ministry of Foreign Affairs and International Cooperation, and Tianjin Union Investment Development Group Co Ltd (Tianjin) have responded to US sanctions on Union Development Group Co Ltd (UDG), a Chinese-owned company currently developing the sprawling $3.8 billion Dara

  • PM requests Russia’s Covid vaccine

    Prime Minister Hun Sen has requested that Russia provide Cambodia with its Covid-19 vaccine after the former announced it planned on mass vaccinating its population next month. The request came on Thursday through the prime minister’s Facebook page as he met with Anatoly Borovik,

  • Influenza breaks out in eight provinces

    Nearly 600 people have been infected with influenza in eight provinces in the past month, Ministry of Health spokesperson Or Vandine said. The ministry is advising extreme caution. A report released by Vandine on Saturday said the Ministry of Health observed transmissions of influenza between August 15