Expanding Trade Opportunities in Southeast Asia
News release
Strengthening economic partnerships and opening new doors for Atlantic Canadian businesses in the Indo-Pacific.
February 28, 2025 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
Diversifying trade strengthens the economy, reduces dependence on traditional markets, and opens new opportunities for businesses. By expanding into new markets, Canadian businesses can grow faster, create more jobs, and develop innovative products and services to better compete globally. That is why the Government of Canada, and the four Atlantic provinces are working together to expand trade in the Indo-Pacific region.
From February 19 to 28, a delegation of eight Atlantic Canadian companies, two educational institutions and as well as industry association representatives travelled to Singapore, Malaysia, and Vietnam. Participants from the Agri-food, Ocean Tech, Energy, Clean Tech, Aerospace and Defence, and ICT sectors engaged in business-to-business meetings, in-market briefings, site tours, and roundtable discussions to expand their in-market reach. Delegates also attended the 2025 Canada-in-Asia Conference in Singapore, promoting Canada as a key player in the region.
The mission supports Atlantic Canada’s goals in the Indo-Pacific region, including focusing on long-term trade development and diversification. It also reflects Canada’s commitment to expanding partnerships across the Indo-Pacific region and supporting development initiatives that align with local priorities, as well as Canada’s Feminist International Assistance Policy and Indo-Pacific Strategy.
This mission was supported through the Atlantic Trade and Investment Growth Agreement (ATIGA) and advances the goals of the Atlantic Growth Strategy by fostering innovation, export growth, and the development of strong global partnerships. It also reflects the shared commitment of federal and provincial partners to expand trade opportunities for businesses by helping them establish connections in new and emerging markets.
Quotes
“Atlantic Canada has incredible products, services, and research from our region to share with the world, and events like the Canada-in-Asia Conference help us do just that. By supporting trade missions like this, your federal government is helping local businesses grow, create good jobs, and keep our economy moving forward.”
- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA
“Nova Scotia is proud to have been part of this delegation that is working to bring some of the finest products in the world to new markets in the Indo-Pacific region. The Team Atlantic Canada approach will benefit businesses in all four provinces by diversifying trade and strengthening our economies today and into the future.”
- The Honourable Colton LeBlanc, Nova Scotia Minister of Growth and Development
“We’re proud to have PEI represented as part of the Atlantic delegation to Asia. These economic missions have proven over the years to provide our Island businesses with opportunity and exposure to new markets and potential customers, and this latest mission promises continued market diversification for our Island.”
- The Honourable Cory Deagle, Minister of Economic Development, Innovation and Trade of Prince Edward Island
“Newfoundland and Labrador has much to offer from its robust and rapidly-expanding tech sector. On this mission we will specifically focus on our strength in marine technologies, including deep-sea robotics and underwater mapping. These thriving sectors are opening new avenues for economic growth and environmental stewardship. Our province is pleased to be represented by five Newfoundland and Labrador businesses and academic institutions on this important mission to find new markets and forge new partnerships in Southeast Asia.”
- The Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, Government of Newfoundland and Labrado
Quick facts
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The Indo-Pacific region is Canada’s second-largest export market after the United States. It spans 40 countries and economies, including all 10 member states of the Association of Southeast Asian Nations (ASEAN).
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Canada has maintained a partnership with the ASEAN region for over 45 years, and the association was Canada’s fourth largest trading partner in 2023.
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Two-way trade between Canada and the three ASEAN countries visited on this mission exceeded $21 Billion in 2023, including $14B with Vietnam, $4.7B with Malaysia, and $3.2B with Singapore.
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Canada and ASEAN trade ministers have agreed to work toward concluding negotiations for a Canada-ASEAN free trade agreement by the end of 2025.
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The annual Canada-in-Asia Conference convenes over 500 business leaders, experts, investors, policymakers, researchers, and innovators from across Asia and Canada to exchange perspectives, knowledge, and ideas, with the goal of facilitating collaborative partnerships.
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Associated links
Contacts
Connor Burton
Press Secretary
Office of the Minister of Rural Economic Development and of the Atlantic Canada Opportunities Agency
Connor.Burton@acoa-apeca.gc.ca
Media Relations
Atlantic Canada Opportunities Agency
mediaroom-salledesmedias@acoa-apeca.gc.ca
Chrissy Matheson
Department of Growth and Development
Government of Nova Scotia
902-471-2444
Michel LeBlanc
Communications, Opportunities NB
Government of New Brunswick
michel.leblanc@onbcanada.ca
Vicki Tse
Department of Economic Development, Innovation and Trade
Government of Prince Edward Island
vickitse@gov.pe.ca
Brodie Thomas
Media Relations Manager
Industry, Energy and Technology
Government of Newfoundland and Labrador
brodiethomas@gov.nl.ca
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