ASEAN-Canada FTA Talks On Track For Completion: Indonesia's Deputy Trade Minister

By Mohd Iswandi Kasan Anuar

JAKARTA, Dec 4 (Bernama) -- Negotiations for the ASEAN-Canada Free Trade Agreement (ACAFTA) remain on track to be completed by 2025, though progress so far has not fully met the expectations of all parties involved, said Indonesia’s Deputy Minister of Trade, Dyah Roro Esti Widya Putri.

Speaking at a discussion on the trade deal here on Monday, the minister called for continued optimism, emphasising that both sides would ultimately find solutions to the ongoing disagreements over key issues.

“It is important to find a middle ground during these negotiations and to engage all relevant stakeholders in addressing these concerns,” she said at the event, which was organised by the Economic Research Institute for ASEAN and East Asia (ERIA).

Dyah also highlighted the significance of the ACAFTA talks, noting that once finalised, it would mark the first free trade agreement between ASEAN and North America, which includes countries like Canada and opening new market opportunities for both regions.

“Full support and collaboration from all stakeholders, including the business sector, is essential for identifying best practices and practical solutions,” she added, according to a statement from the ministry.

The event was attended by Canada’s Small Business, Export Promotion, and International Trade Minister Mary Ng, Canada’s ambassador to ASEAN Vicky Singmin, ERIA president Tetsuya Watanabe, and senior officials from ASEAN-member states.

The ACAFTA negotiations, which began on Nov 17, 2021, represent a significant step in strengthening economic ties between ASEAN and Canada, further integrating ASEAN into global value chains and enhancing market access for businesses in both regions.

The agreement aims to build on the strong economic relationship that has existed since 1977.

-- BERNAMA