On November 27, the Honourable Mélanie Joly, Minister of Foreign Affairs, launched Canada’s Indo-Pacific Strategy, a strong, bold, comprehensive road map to deepen business opportunities and engagement in the Indo-Pacific region over the next 10 years.
“The Surrey Board of Trade’s Surrey International Trade Centre looks forward to identifying and implementing pathways to build global business connections for local businesses,” said Anita Huberman, President & CEO, Surrey Board of Trade. “Canada’s goal is to be a reliable partner to the Indo-Pacific region with an almost $2.3 billion investment over the next five years.”
International trade for businesses of all sizes allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings consumer costs down.
“We expect that Canada’s Indo-Pacific Strategy will build more job opportunities, expand target markets, increase revenues, improve risk management, provide access to a greater variety of goods, build better relations between countries, and provide opportunities for businesses of all sizes to enhance their company reputation.”
Opportunities for agriculture, energy, fuel and fertilizer for the region are only the beginning of the opportunities from this strategy.
Quick facts about the Indo-Pacific region:
- 50% of world GDP by 2040
- 50% of global greenhouse gas emissions
- 65% of world’s population
- 67% of world’s Indigenous Peoples
- 37% of the world’s poor
- 1 in 5 Canadians have family ties to the region
- US$29.3T combined GDP of top 5 compared to US$17.2T for whole EU-27
Canada’s Indo-Pacific Strategy features 5 interconnected strategic objectives:
· Promoting peace, resilience and security
o Learn more about Canada’s engagement in the Indo-Pacific as an active and trusted regional security partner.
· Expanding trade, investment and supply-chain resilience
o Find out how Canada is building a stronger and more resilient economy at home while strengthening our economic ties across the Indo-Pacific.
· Investing in and connecting people
o Canada is deepening partnerships and forging stronger connections with people in the Indo-Pacific.
· Building a sustainable and green future
o Stay informed on how Canada is working with the Indo-Pacific to protect the environment by reducing greenhouse gas emissions and transitioning to a low-carbon economy.
· Canada as an active and engaged partner to the Indo-Pacific
o Discover how Canada is investing in and expanding partnerships to build a prosperous, secure, inclusive, and greener future for ourselves and the Indo-Pacific.