Canada is taking bold steps to create well-paying jobs and attract investment by fostering partnerships with APEC economies.
Prime Minister Justin Trudeau recently unveiled a series of initiatives at the APEC Economic Leaders’ Meeting in Lima, Peru, aimed at advancing trade, gender equality, and energy innovation. These efforts underline Canada’s commitment to economic growth and sustainability.
The Significance of APEC for Canada
The Asia-Pacific Economic Cooperation (APEC) region is vital to Canada’s economy, accounting for 84% of the country’s trade and encompassing four of its top five trading partners.
By engaging with this fast-growing region, Canada is solidifying its role as a key player in global commerce and innovation.
Canada’s Economic Footprint in APEC
Metric |
Value |
|---|---|
| Share of Canada’s Trade | 84% |
| APEC’s Share of Global GDP | Over 60% |
| Canadian Merchandise Trade | Nearly $1.3 trillion |
Initiatives Announced at APEC
Canada-Indonesia Comprehensive Economic Partnership Agreement
This new agreement is set to:
- Open new markets for Canadian businesses, entrepreneurs, and farmers.
- Attract significant investment into Canada.
- Enhance women’s participation in the workforce and advance co-operation on critical minerals.
Indonesia’s massive economy, with over 280 million people, offers Canadian industries enormous potential for collaboration and growth.
Canadian Trade Gateway and Nuclear Partnerships
Canada also introduced its vision to strengthen nuclear energy partnerships through the Canadian Trade Gateway.
This initiative will:
- Address growing demand for clean and secure energy solutions.
- Boost Canadian nuclear expertise across the Indo-Pacific.
- Create job opportunities by expanding Canada’s role in this critical industry.
Investing in Inclusivity and Sustainability
Canada’s efforts at APEC went beyond trade, focusing on inclusive growth and sustainability. Over $35 million was pledged to initiatives that will benefit communities across the region:
- Empowering Small Businesses: $2 million to support micro, small, and medium-sized enterprises, with a focus on gender inclusivity.
- Climate Resilience: $9.2 million to help Peruvian communities prepare for extreme weather and climate disasters.
Additional investments included funding for Venezuelan refugees, Indigenous communities, and cybersecurity partnerships.
Looking Ahead
Canada’s leadership at APEC exemplifies its vision for a stronger, more inclusive economy. By embracing global partnerships and prioritizing sustainability, Canada is setting the stage for long-term prosperity.
These initiatives are not just about creating jobs today—they’re about building a resilient economy that benefits Canadians for generations to come.
Through APEC, Canada is proving that economic growth and inclusivity can go hand in hand, making the country a destination of choice for investment and collaboration.
Sources: THX News & The Canadian Government.
