Carney to attend Asean summit

KUALA LUMPUR: Canadian Prime Minister Mark Carney is set to attend the 47th Asean Summit next month as the North American nation and the regional group seek to finalise a new free trade agreement (FTA) by the end of next year.

Canada’s International Trade and Secretary of State (International Deve­lopment) Minister Yasir Naqvi confirmed this during the 57th Asean Economic Ministers’ (AEM) meeting here yesterday.

“Prime Minister Carney is looking forward to attending next month’s Asean Summit as a guest of the Chair (Malaysia) and the opportunity to take our partnership to new heights, including through concrete initiatives that are comprehensive, ambitious and innovative,” he said during the AEM-Canada consultation.

He said although this would be Carney’s first trip to Asia since taking office, it will be the fourth consecutive time a Canadian prime minister has participated in the Asean leaders’ summit.

“Canada’s new government under the leadership of Prime Minister Carney is fully committed to its strategic partnership with Asean and clearly recognises Asean’s centrality in the Indo-Pacific region,” he said.

As both Asean and Canada work to conclude FTA negotiations, Yasir said business and investment relationships are poised to expand.

He said the FTA is expected to increase Canada’s GDP by US$2.5bil (RM10.55bil) while for Asean, it is estimated to generate US$6bil (RM25.33bil).

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Asean aims to finalise its FTA with Canada.

“Our main focus is on the FTA, where we decided to try to conclude the Asean-Canada FTA by the end of 2026,” said Tengku Zafrul when met by reporters on the sidelines of the 57th AEM.

He also said the meeting had discussed progress in the Asean-Canada FTA negotiations.

“We felt we can 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 the other seven countries in Asean, which are already trading with Canada through the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership.

“We must ensure that the Asean-Canada FTA can be finalised,” he added.

Earlier, in his opening remarks, Tengku Zafrul said the meeting with Canada was particularly significant as it is taking place when the global economy is heading towards a shift.

He said 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 Asean-Canada 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.

Global leaders who will attend the 47th Asean Summit and Related Summits, scheduled to be held from Oct 26 to 28 this year, include United States President Donald Trump, Chinese Premier Li Qiang and Indian Prime Minister Narendra Modi.