The Third AEM-Canada Consultations
27 August 2014
Joint Media Statement
- The Third ASEAN Economic Ministers (AEM)-Canada Consultations were held on 27 August 2014, in Nay Pyi Taw, Myanmar. The Consultations were co-chaired by H.E. Dr. Kan Zaw, Union Minister for National Planning and Economic Development, Myanmar, and the Honourable Ed Fast, Canada’s Minister of International Trade.
- The Ministers noted the excellent progress made toward achieving all objectives of the 2012-2015 Work Plan to Implement the ASEAN-Canada Joint Declaration on Trade and Investment. The Ministers tasked the senior economic officials with starting work on the ASEAN-Canada Work Plan for 2016-2020.
- The ASEAN Ministers expressed their appreciation to Canada for organising the June 1-5, 2014, AEM Roadshow to Canada, covering the cities of Vancouver and Toronto. The AEM Roadshow included private sector participation from ASEAN Member States, and it provided excellent opportunities for the Ministers and senior officials to engage both with their counterparts and the business community. The Ministers were pleased with the outcomes of the Roadshow and agreed to undertake follow-up activities aimed at enhancing business opportunities in, and economic cooperation between, Canada and ASEAN.
- The ASEAN Ministers welcomed the recent announcements that Canada will establish a mission and name a dedicated ambassador to ASEAN, as well as appoint resident representation in Cambodia and Lao PDR. The Ministers suggested that these new resources will be an important addition to the ASEAN-Canada economic relationship.
- Two-way trade and direct investment have witnessed robust development. According to Canadian statistics, Canada-ASEAN merchandise trade reached a record level of US$16.5 billion in 2013, which represented a US$5.8-billion trade surplus for ASEAN and a trade increase of 4.2% year-on-year. The stock of known Canadian foreign direct investment abroad in the ASEAN region reached US$5.7 billion (C$6.1 billion) at the end of 2013, or an increase of 4% year-on-year. Canadian direct investment in ASEAN now exceeds that in neighbouring economies such as mainland China, Hong Kong, Japan and India.
- The Ministers held a dialogue with the Canada-ASEAN Business Council (CABC) during the Consultations and commended the Council for its active role in promoting ASEAN-Canada trade and investment. In particular, they noted accomplishments organising the first Canada-ASEAN Business Forum, expanding their membership base, and active involvement in the AEM Roadshow to Canada. The ASEAN Ministers took note of the CABC proposal for an ASEAN supply chain platform to support the development of small and medium-sized enterprises in ASEAN and tasked the ASEAN Senior Economic Officials (SEOM) to explore the proposal and its possible implementation.
- The ASEAN Ministers lauded Canada for its continued support of ASEAN’s regional integration efforts, in particular the ASEAN Economic Community, and for its commitment to sectoral cooperation under the ASEAN-Canada Enhanced Partnership Program. The Ministers agreed to meet again next year in Malaysia, with the main objective being to adopt the new Joint Declaration on Trade and Investment Work Plan.
List of Ministers
- The Honourable Pehin Dato Lim Jock Seng, Second Minister, Ministry of Foreign Affairs and Trade, Brunei Darrusalam
- The Honourable Ed Fast, Minister of International Trade, Canada
- H.E. Sun Chanthol, Senior Minister and Minister of Commerce, Cambodia
- H.E. Muhammad Lutfi, Minister of Trade, Indonesia
- H.E. Mrs. Khemmani Pholsena, Minister of Industry and Commerce, Lao PDR
- H.E. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, Malaysia
- H.E. Dr. Kan Zaw, Union Minister for National Planning and Economic Development, Myanmar
- H.E. Gregory L. Domingo, Secretary of Trade and Industry, the Philippines
- H.E. Lim Hng Kiang, Minister for Trade and Industry, Singapore
- H.E. Chutima Bunyapraphasara, Permanent Secretary, Acting for the Minister of Commerce, Thailand
- H.E. Dr. Vu Huy Hoang, Minister of Industry and Trade, Viet Nam
- H.E. Le Luong Minh, Secretary-General of ASEAN
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