Trudeau uses epidemic-prone supply chains on the free trade pitch for ASEAN


Ottawa – Prime Minister Justin Trudeau used Gnold’s global supply chains in a bid on Sunday to win a free trade deal for a group of Southeast Asian nations.

Trudeau has long sought a trade agreement with the 10-nation alliance, which includes the Philippines, Indonesia, Brunei, Singapore, Malaysia, Thailand, Vietnam, Laos, Cambodia and Burma.

He told the Virtual Business Summit, organized by the Association of Southeast Asian Nations, that a free trade agreement with Canada would be a “win-win” for all sides, especially from the epidemic.

Speaking in a pre-recorded message, Trudeau argued that the deal with ASEAN will help companies and entrepreneurs build contacts and business relationships around the world.

He said the agreement would give investors greater confidence to invest in international markets and protect supply chains from the uncertainties brought by COVID-19.

Trade disruptions around the globe are slower to recover than consumer demand for goods and further slowed by ongoing COVID-19 outbreaks and public health measures.

All of this affects the supply of parts needed to build an inventory of demanding consumer products or items such as cars, and transfers transportation costs to customers, which is reflected in higher inflation rates.

“As we conclude the fight against Kovid-19, gauging our relationship with ASEAN economies and diversifying trade across Asia-Pacific will play a critical role in our recovery,” Trudeau said in his speech.

“My friends, the strong Canada-ASEAN relationship is a clear win-win for all our businesses and all our people.”

The 10-nation group economy represents Canada’s sixth largest trading partner, but the country already has access to four ASEAN members — the Progressive Agreement for Comprehensive and Trans-Pacific Partnership (CPTPP) through the Brunei, Malaysia, Singapore and Vietnam-Pacific Rim Trade Agreement.

The Liberals’ Electoral Forum promised a new center to help capitalize on opportunities under the CPTPP and a new Asia-Pacific strategy aimed at ganifying relations in the region, including new trade agreements.

Analyzes by ASEAN and the federal government assessed Canadian goods and services exports on the merits of the Free Trade Agreement.

In his address, Trudeau said women, Indigenous people, LGBTQ entrepreneurs, visible minorities and other underrepresented business owners should ensure business and profitability.

October 24, 2021

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