KUALA LUMPUR: Asean aims to finalise its free trade agreement (FTA) with Canada by the end of next year, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said this timeframe was decided upon during the Asean Economic Ministers (AEM)-Canada consultation on Friday (Sept 26).
Tengku Zafrul also said the meeting discussed the progress of Asean-Canada FTA negotiations.
“We felt we could conclude negotiations in the FTA, especially on challenging issues,” he added.
Tengku Zafrul said Asean has requested Canada to be more flexible in the FTA talks.
“They seemed to be more open to us, especially Malaysia and seven other countries in Asean, which are already trading with Canada through the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).
“We must ensure that the FTA can be finalised,” he added.
Tengku Zafrul, in his earlier opening remarks, said the meeting with Canada was particularly significant as it is taking place when the global economy is heading towards a shift.
According to Tengku Zafrul, Asean is a trusted, reliable and authoritative partner for like-minded countries like Canada.
“We are open, remain committed to rules-based trade that fosters real opportunities for our people and businesses,” he added.
Tengku Zafrul said Asean’s partnership with Canada is built on nearly five decades of shared trust and prosperity.
He said once the FTA is concluded, it will not only deepen collaboration in the Asean region, but also unlock new drivers of growth in the economy and supply chain.
“This FTA is not just about trade, it is about securing a shared competitive and sustainable future for us all,” he added.
