Asean, Canada aim to double trade in 2020

KUALA LUMPUR: Asean economic ministers and the Canada-Asean Business Council (CABC) concluded their consultation meeting here on Tuesday and set a target to double Asean-Canada trade in 2020 from C$19 billion (RM60.7 billion) now.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed, who chaired the meeting, said the target was achievable, given Canada's growing interest in the region.

"A five-year roadmap for economic cooperation between Asean and Canada was also approved at the meeting. The priority will be to develop the region's small and medium enterprises (SMEs).

"We want the roadmap, which begins next year, to be aligned with the Asean Vision 2025 and Canada has indicated its willingness to increase participation in the capacity building of Asean SMEs in various sectors, including technology," he told reporters.

Also present at the meeting, held alongside the 47th ASEAN Economic Ministers' Meeting and Related Meetings, were Canadian Deputy International Trade Minister Christine Hogan, Asean secretary-general Le Luong Minh and CABC president Wayne Farmer. - Bernama