Creating Good, Well-Paying Jobs Alongside APEC Partners

2024-11-16 09:00:37

(MENAFN- EIN Presswire) CANADA, November 16 - Our government is making Canada the destination of choice to invest and do business. We are creating well-paying jobs, strengthening the middle class, and putting Canadian workers and businesses at the forefront of every opportunity.

That was the message the Prime Minister, Justin Trudeau, delivered at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Lima, Peru, where he concluded his participation today. Encompassing 21 economies, more than 60 per cent of global GDP, and 84 per cent of Canada's trade, the APEC region is growing rapidly and is home to four of Canada's top five trading partners. This makes the region an extraordinary opportunity for creating jobs in Canada.

At the Leaders' Meeting, the Prime Minister took action to remove barriers to trade and expand Canada's network of trade partnerships in the Indo-Pacific. He announced the substantive conclusion of negotiations for a Canada-Indonesia Comprehensive Economic Partnership Agreement . The Agreement is a significant milestone in the Canada-Indonesia relationship that will create well-paying jobs, attract investment into Canada, and open new markets for Canadian businesses, entrepreneurs, and farmers. It will also advance progress on other shared priorities, such as bringing more women into the workforce and increasing co-operation on critical minerals. As Southeast Asia's largest economy and with a population of over 280 million – the fourth largest in the world – Indonesia is a priority market for Canadian investment and collaboration. The Prime Minister and the President of Indonesia, Prabowo Subianto, looked forward to the Agreement coming into force as soon as possible and issued a joint statement committing to sign the agreement in the next year.

Prime Minister Trudeau announced Canada's vision to strengthen nuclear partnerships in the Indo-Pacific through the Canadian Trade Gateway . Announced as part of Canada's Indo-Pacific Strategy (IPS), the Gateway will leverage Canadian expertise to address the growing demand for nuclear energy and science across economies. The nuclear sector has a growing role in the health, food, and agriculture industries – and are a key pillar in building energy security, developing and adopting artificial intelligence technologies, and supporting the clean energy transition. The Gateway will bring together Canadian and Indo-Pacific expertise in the nuclear industry and increase opportunities for the Canadian nuclear industry to supply products and services – growing our footprint in the region and creating good, well-paying jobs. It will also highlight Canada's profile as a responsible leader in the nuclear space and a reliable commercial and investment partner.

While Canada will benefit tremendously from the progress made at APEC, we know that economic growth is not a zero-sum game. That is why the Prime Minister also announced over $35 million in investments to ensure stability and certainty for Canada's partners. These investments include:

$2 million to grow trade and investment across the APEC region, with supports to Micro, Small, and Medium-sized businesses as well as increased opportunities for women's participation in the economy.
$1.8 million to create opportunities for Venezuelan refugees and migrant professionals in Peru and improve working conditions and health and safety practices for farm workers.
$9.2 million to help communities in the Peruvian Andes better prepare for climate disasters and extreme weather events.
$3.9 million for the BlackBerry Cybersecurity Centre of Excellence, to strengthen cybersecurity partnerships and expertise in the Indo-Pacific through skills training opportunities, including for women.
Nearly $18 million to advance gender equality and the sexual and reproductive health and rights of women and girls in Peru.
$200,000 to improve access to justice for Indigenous and Afro-Peruvian communities in Peru, including those living in remote areas and gender-based violence survivors.

During APEC, the Prime Minister endorsed a Leaders' Declaration along with other APEC member economies, outlining APEC's future agenda, including in economic growth, the clean energy transition, and food security. The Prime Minister underlined the importance of making progress on these priorities and focusing this work on making life better for our peoples throughout South Korea's APEC Chair and Canada's G7 Presidency in 2025.

During his visit, Prime Minister Trudeau also raised current global and regional conflicts, in particular the situation in Ukraine, Haiti, and the Middle East. He reaffirmed Canada's commitment to working with allies and international partners to promote security and stability, preserve peace, and strengthen democracy for people around the world.

Team Canada is making sure Canadians get the jobs, opportunities, and investment they need to succeed. At this year's APEC Economic Leaders' Meeting, Prime Minister Trudeau expanded Canada's network of trade partnerships, announced new action to bring us closer with our allies, and renewed our commitment to delivering fairness for every generation.

Quote Quick Facts

This was the ninth APEC Economic Leaders' Meeting attended by Prime Minister Trudeau.
In 2023, the APEC region accounted for 84 per cent of Canada's total merchandise trade, and four of Canada's top five merchandise trading partners were APEC members (United States of America, China, Mexico, and Japan).
In 2023, APEC's merchandise trade reached a total of US$23.5 trillion, with exports amounting to US$11.7 trillion and imports at US$11.8 trillion. Canadian merchandise trade with the APEC region remained stable at nearly $1.3 trillion.
At the APEC Economic Leaders' Meeting, Canada announced that it will host the APEC Business Advisory Council (ABAC) meeting in 2025. ABAC provides an important bridge between Canadian business leaders and their counterparts in the Asia-Pacific region to explore new opportunities to work together.
Released in 2022, Canada's Indo-Pacific Strategy (IPS) advances and defends Canada's interests by supporting a more secure, prosperous, inclusive, and sustainable Indo-Pacific region while protecting Canada's national and economic security at home and abroad.
Announced as part of the IPS in 2022, the Canadian Trade Gateway will help strengthen Canada's nuclear partnerships in the region, develop local expertise and facilitate knowledge sharing in the nuclear sector, and identify opportunities for Canada's industry to meet regional needs, including through roundtables, symposia, and other engagement events.
Since the launch of the IPS, we have made significant progress in its implementation, such as:
- Announcing the new Canada-ASEAN Strategic Partnership, a key milestone in our efforts to strengthen relations with Southeast Asia.
- Appointing a Special Envoy for the Indo-Pacific, Ambassador Ian McKay, in April 2023, and a Canadian Indo-Pacific Trade Representative, Paul Thoppil, in September 2023. These senior officials play a critical role in advancing Canada's interests in the region.
- Under the IPS, Canada has also recently signed a five-year agreement with the Philippines to provide Canada's Dark Vessel Detection system, which offers state-of-the-art remote sensing technologies, to heighten the Philippines' maritime domain awareness and support their efforts to combat illegal, unregulated, and unreported fishing within their sovereign waters. The system was deployed to multiple monitoring facilities in the Philippines last year.
While in Peru, Prime Minister Trudeau marked 80 years of diplomatic relations between our two countries and 15 years since the Canada-Peru Free Trade Agreement went into force. He highlighted the importance of our bilateral trade and investment relationship, which has grown considerably in recent years, with bilateral merchandise trade more than doubling since 2009. He reiterated Canada's commitment to further deepening our ties to bolster supply chain resilience and create opportunities in both countries, including as part of ongoing work to establish a Canada-Peru Dialogue on Critical Minerals and Mining Sustainability.
Peru is a key mining partner for Canada with abundant critical mineral resources. A Canada-Peru Dialogue on Critical Minerals and Mining Sustainability would advance Canadian regional leadership and promote collaboration in regional and global value chain development.
Canada is a founding member of APEC. Founded in 1989, APEC has become the leading economic forum in the Asia-Pacific region.
As of 2023, APEC's 21 member economies are responsible for more than 60 per cent of world GDP, account for 49 per cent of world merchandise trade, and are home to nearly 40 per cent of the world's population.
Canada and Peru enjoy a strong relationship and a dynamic partnership focused on democracy, human rights, trade, environmental sustainability, and development.