Canada to host business forum on trade and economic cooperation with Asia-Pacific region

From: Global Affairs Canada

News Release

July 21, 2017 - Ottawa, Ontario - Global Affairs Canada

Helping Canadian businesses succeed in the global market is a priority for the Government of Canada and is key to raising incomes, generating growth and strengthening the middle class in the country.

From July 24 to 28, 2017, Canada will host a meeting of the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) in Toronto. The meeting is the third of the year and will bring together business leaders from Canada and other Asia-Pacific economies on matters related to trade and economic cooperation and connectivity in the APEC region in advance of the APEC leaders’ meeting in Vietnam in November.

Pamela Goldsmith-Jones, Parliamentary Secretary to the Minister of International Trade, will attend the ABAC meeting to promote Canada’s progressive trade agenda and engage with representatives of businesses of all sizes on expanding and deepening Canada’s trade and investment relationships in the Asia-Pacific region. The Parliamentary Secretary will deliver remarks and participate in discussions, with a focus on the important role micro-, small and medium-sized enterprises, particularly those owned by women, can play in helping to encourage economic growth and reduce poverty across the APEC region.

Quotes

“Through APEC, Canada is continuing to expand and deepen trade and investment relationships with Pacific nations, including the growing Asian markets. By working together, we can help ensure that the economic benefits of trade are sustainable and inclusive and lead to greater prosperity for citizens across the entire region.”


- Pamela Goldsmith-Jones, Parliamentary Secretary to the Minister of International Trade

Quick Facts

  • The third ABAC meeting is organized in partnership with the Government of Ontario and with the support of the Asia Pacific Foundation of Canada, which serves as Canada’s ABAC secretariat.

  • In November 2015, the Government of Canada announced $4.74 million in funding for the APEC-Canada Growing Business Partnership project, which aims to help reduce poverty in developing APEC economies by encouraging micro-, small and medium-sized enterprises, particularly those led by women, to expand into global and regional markets.

  • APEC’s 21 members are home to nearly 2.9 billion people who generate 60% of the world’s GDP and accounted for 84% of Canada’s total merchandise trade in 2015.

  • APEC includes four of Canada’s top five trading partners: the United States, China, Mexico and Japan.

  • The next APEC summit will be held in November 2017 in Vietnam with the theme Creating New Dynamism, Fostering a Shared Future.

  • The APEC forum was established in 1989 and has become the most important economic forum in the Asia Pacific region. Its primary purpose is to facilitate economic growth and prosperity in the region, with the vision of creating a seamless regional economy.

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