10th AEM-Canada Consultations held; launching of negotiations announced for ASEAN-Canada Free Trade Agreement

KAT 00893 mk

Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo joined the 10th AEM-Canada Consultations which were held via videoconference on 17 November 2021 from the Ministry of Investment and Foreign Economic Relations in Nay Pyi Taw.
The meeting was co-chaired by Dato Dr Amin Liew Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, Brunei Darussalam, and Ms Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, Canada. The meeting was attended by the Economic Ministers and Senior Economic Officials from the ASEAN Member States and Canada, the Secretary-General of ASEAN Secretariat and representatives.
At the meeting, the ministers exchanged views on the economic impacts of the Covid-19 pandemic and the possible cooperation to mitigate these impacts, the progress of work plan to implement the ASEAN-Canada Joint Declaration on Trade and Investment, the capacity building programme which will be provided by Canada and recommendations raised by the Canada-ASEAN Business Council.
During the meeting, Myanmar supported the endorsement of the Reference Paper for a future ASEAN-Canada Free Trade Agreement (FTA) and the announcement of the launching of the ASEAN-Canada FTA’s negotiations.
In 2020, total two-way merchandise trade between ASEAN and Canada was valued at USD 19.9 billion and the stock of Foreign Direct Investment (FDI) from Canada to the ASEAN Member States reached USD 12.5 billion, an increase of 11.7 per cent year-on-year. The trade and investment ties between ASEAN and Canada will be promoted through the establishment of the ASEAN-Canada Free Trade Agreement. Myanmar, as a member of ASEAN, could enjoy the ASEAN-Canada Free Trade Agreement by receiving Canada investment and promoting bilateral trade.
At the meeting, the Union Minister discussed the importance of reopening borders and resuming international travel safely and quickly for economic recovery from the pandemic, preparation for reopening the Myanmar tourism sector in early 2022 and the launch of negotiations for the ASEAN-Canada Free Trade Agreement.
The Joint Media Statement of the 10th AEM-Canada Consultations was adopted at the end of the meeting.
The Deputy Minister and senior officials from the Ministry of Investment and Foreign Economic Relations also attended the meeting. – MNA

Share this post
Hot News
Hot News
Shan United technical director to handle Myanmar U-19 football team
Onion price plummets in regional markets
Applications for admission to master classes at YUE invited
Palm oil market sees steep plunge in price before Thingyan holidays
The following documentary photos are portraying the Parade on the 78th Anniversary of Armed Forces Day held in Nay Pyi Taw on 27 March 2023: –
Higher Potential Boredom Threshold in Language Study
Remove the danger of narcotic drugs for the future of youths
Dinner hosted in honour of 78th Anniversary of Armed Forces Day
SAC Vice-Chair Dy C-in-C of Defence Services C-in-C (Army) Vice-Senior General Soe Win and wife pay respects to Independence Mawgun award winners who attended 78th Anniversary of Armed Forces Day Parade
Families of Tatmadaw (Army, Navy and Air) led by SAC Chairman Defence Services C-in-C Senior General Thadoe Maha Thray Sithu Thadoe Thiri Thudhamma Min Aung Hlaing and wife pay respects to retired senior military officers who attended 78th Anniversary of Armed Forces Day Parade