The Canada Advantage features an analysis of eight priority sectors in which Canada offers strategic advantages to ASEAN firms that may be looking to expand or invest abroad: Automotive, Oil and Gas, Cleantech, ICT, Agri-food, Banking and Finance, Aerospace and Aviation, and Biopharmaceuticals.
The report highlights that Canada offers a business climate with low business costs and more robust investor protections relative to most other G7 economies; this presents attractive opportunities for ASEAN-based firms looking for a gateway to the North American market.
According to the report, Canada has the strongest cost advantage relative to the US among G7 countries. It has ranked 2nd best in the G7/G20 for favourable business environment over 5 years. It also offers high level of investor protection, ranking 2nd in the G7 and 7th out of 127 countries.
The Canada Advantage report goes beyond the two-way economic benefits and examines fascinating stories of how ASEAN businesses from various industries are already engaging with Canada, and how an ASEAN-Canada FTA would meaningfully grow opportunities further.
At a time of increased global trade challenges, the CABC has been active in fostering closer economic relations between Canada and ASEAN. In view of the upcoming AEM – Canada Consultations on September 1 in Singapore, the CABC urges ASEAN and Canada to accelerate their partnership towards meaningful and mutually-beneficial ASEAN-Canada trade relations.