Minister Ng to attend annual Asia-Pacific Economic Cooperation Ministerial Meeting in Lima, Peru

From: Global Affairs Canada

News release

November 12, 2024 - Ottawa, Ontario - Global Affairs Canada

This week, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, will participate in the annual Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting, which will be held in Lima, Peru, from November 13 to 16, 2024.

This meeting will provide an opportunity for Canada to advance its international trade and investment priorities, including:

  • advocating for inclusive trade, economic empowerment and growth that benefits everyone
  • promoting sustainable and interconnected growth
  • supporting the rules-based multilateral trading system, with the WTO at its core
  • advancing efforts toward a reformed and modernized WTO that ensures fair competition, a level playing field for businesses and sustainable and inclusive trade so that it remains relevant in an ever-changing world.

While in Lima, the Minister will meet with international partners and Canadian business representatives to discuss further collaboration on trade and investment. She will also highlight key milestones in the Canada-Peru bilateral relationship, including the 15-year anniversary of the Canada-Peru Free Trade Agreement as well as the 80-year anniversary of Canada-Peru diplomatic relations; both of which continue to benefit a wide range of Canadian exporters and service providers from coast to coast to coast. 

Quotes

“Canada’s commitment to deepening engagement in the Indo-Pacific is stronger than ever, and the APEC Ministerial Meeting offers a vital opportunity to drive our trade agenda forward for Canadians. This platform allows us to strengthen our economic ties with key partners, promote sustainable growth and champion inclusive prosperity. I am eager to collaborate with my international counterparts to build a resilient and dynamic economy that benefits Canada’s middle class now and into the future.”

- Mary Ng, Minister of Export Promotion, International Trade and Economic Development

Quick facts

  • Canada is a founding member of APEC. Since its establishment in 1989, APEC has become the pre-eminent economic forum in the Asia-Pacific region.

  • APEC is a leading platform for Canada to advance economic policies in the region to promote free, fair and open trade and investment, as well as to advance inclusive and sustainable growth.

  • The 21 APEC member economies account for nearly 40% of the world’s population, around half of the global merchandise trade and about 60% of global GDP.

  • In 2023, fellow APEC economies were the destination for more than 88% of Canada’s merchandise exports. Four of Canada’s top 5 merchandise trading partners are APEC economies.

  • In 2023, foreign investment in Canada from APEC economies was valued at $866 billion.

  • 2024 marks 80 years of bilateral relations between Canada and Peru and the 15th anniversary of the Canada-Peru Free Trade Agreement

  • Canada and Peru enjoy a strong trade relationship, as reflected by the growth in bilateral merchandise exports and the strong Canadian investment in Peru, as well as a dynamic partnership focused on democracy, human rights, trade, environmental sustainability and development.

  • In 2023, bilateral merchandise trade between Canada and Peru was valued at $6.1 billion, and Peru was the third-largest destination for Canadian direct investment in South and Central America, which amounted to over $14 billion.

Associated links

Contacts

Huzaif Qaisar
Press Secretary
Office of the Minister of Export Promotion, International Trade and Economic Development
343-575-8816
Huzaif.Qaisar@international.gc.ca

Media Relations Office 
Global Affairs Canada 
media@international.gc.ca 
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