ASEAN-BAC Chairman Arsjad Rasjid, Wednesday (6 September 2023) said that the meeting was held to foster tangible private sector partnerships to address the most related issues of mutual concern, including accelerating the journey towards Net Zero and ensuring long-term food security.

The theme of the ASEAN-Canada Trade Roundtable Meeting is "Strengthening ASEAN-Canada Opportunities for Sustainable Development".

"The high-level meeting focused on how ASEAN countries and Canada can expand market opportunities, promote partnerships for clean energy, and facilitate trade and investment flows through Canada to accelerate ASEAN's role in global sustainable growth," said Arsjad in his opening address atthe ASEAN-Canada Trade Roundtable Meeting.

Among the attendees were Canada's Special Envoy to the Indo-Pacific Ian Mckay, Canada's Ambassador to ASEAN Vicky Singmin, and Canada-ASEAN Business Council President Wayne Farmer.

Arsjad also expressed his appreciation for the attention given by Prime Minister Justin Trudeau to ASEAN, considering ASEAN as Canada's strategic partner in the Indo-Pacific region.

However, he emphasized the need for more concrete plans and strategies to enhance cooperation in the Southeast Asia region.

"As we hosted Prime Minister Trudeau during the G20 Summit in Bali, he expressed Canada's significant steps in participating in ASEAN's sustainable development is through the establishment of the Just Energy Transition Partnership (JETP) with Indonesia and Vietnam," said Arsjad.

This strategic partnership has resulted in substantial funding support from Canada to assist Indonesia and Vietnam in transitioning from coal to renewable energy sources.

Trade Cooperation

Meanwhile, CABC President Wayne Farmer noted the significant progress ASEAN and Canada have made recently, particularly with the reinvigorated  economic commitment to   the region driven by Canada's new Indo-Pacific Strategy (IPS) and the progression of the Canada-ASEAN Free Trade Agreement negotiations.

Wayne also expressed CABC commitment to supporting the ongoing trade and investment cooperation between Canada and ASEAN countries, considering the significant role of the private sector.

“CABC represents Canada and ASEAN countries in endorsing Foreign Direct Investment (FDI) agreements and evaluating the agreements and strategies in place. Canada is a leader in the fields of agriculture, technology innovation, and renewable energy. "This cooperation aims to help ASEAN countries in achieving sustainable development and transitioning to renewable energy," said Wayne Farmer.

According to Canada’s Ambassador to Japan and Special Envoy for the Indo-Pacific, Ian Mckay, Canada will soon be announced as a strategic partner of ASEAN.

Canada has launched an Indo-Pacific Strategy with five pillars, including security and military surveillance, in collaboration with Indonesia. In the field of trade, through free trade and economic partnership agreements, Canada also fosters exchanges between people, including academics, researchers, and experts.

“We are increasing climate funding through active participation in climate financing institutions in ASEAN. In diplomacy, we continue to expand Canada's presence in ASEAN," elaborated Ian McKay.

Sustainable Business

Arsjad mentioned that Canada is blessed with abundant natural energy resources, including hydropower, wind, and geothermal power generators. Canada also possesses the technical expertise and cutting-edge technology that the ASEAN require for rapid growth.

“The CABC firmly believes that Canada, as a global leader in agricultural commodities, clean energy, critical minerals, and tech innovation, is well-positioned to be a trusted partner to ASEAN in critical areas, including clean energy and energy transition, food security, and digital economy for SME empowerment and inclusive growth,” added Wayne Farmer.

Additionally, the business community in Canada is driven by strong efforts towards sustainable business best practices as part of their corporate strategy.

“We aim to learn from businesses like Air Canada, Pacific Energy, and others in this discussion about how we can motivate our business world to do the same,” said Arsjad.

He expressed optimism that the ASEAN-Canada Trade Roundtable Meeting would pave the way for new developments, ambitious projects, and growing partnerships between ASEAN states and businesses.

A greater focus on potential areas of collaboration and investment is needed to complement this the development. ASEAN must evolve quickly in response to global economic changes by building interconnectivity to cope with the unprecedented growth.

"We hope to explore potential sustainable sectors, including collaboration and innovation to reduce corporate waste and empower women leaders in the energy sector," said Arsjad.

He added that the ASEAN-Canada Trade Roundtable Meeting is also expected to reduce trade barriers, allowing Canadian companies to provide support in infrastructure, technology, and investment to help ASEAN member countries achieve their carbon emission reduction targets.

Writer: Ismadi Amrin
Editors: Budiana/Elvira Inda Sari/Penni Patmawati Rusman

Translator: Wilda Stiana