Canada-ASEAN Free Trade Agreement

The Association of Southeast Asian Nations (ASEAN) is a regional bloc in Southeast Asia comprised of Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. ASEAN is a major economic presence in Asia with a combined GDP of US$2.8 trillion and is projected to rank as the fourth largest economy by 2050 with a population of 643 million.

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Background

In 2017, Canada and ASEAN launched exploratory discussions to examine the potential for a Canada-ASEAN free trade agreement (FTA). Of ASEAN members, Brunei, Malaysia, Singapore, and Vietnam are also signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

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An FTA with ASEAN would expand upon the access and gains of the CPTPP to include markets like Indonesia and the Philippines, both major agri-food export markets for Canada. As a group, ASEAN member state economies represent Canada’s sixth-largest trading partner (2020).

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