Carney to Travel to Asia Next Week to Work On Trade, Defence Partnerships

Prime Minister Mark Carney is scheduled to visit Malaysia, Singapore, and South Korea next week with the objective of boosting Canadian exports and strengthening defence and economic alliances.

Carney will meet with the leaders of all three nations on his trip and will attend the Association of Southeast Asian Nations (ASEAN) Summit from Oct. 26 to 28 in Kuala Lumpur, Malaysia, and the Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju, South Korea, from Oct. 31 to Nov. 1, the Prime Minister’s Office (PMO) announced Oct. 17.

APEC is a key merchandise trade partner for Canada, with more than $1.3 trillion in two-way trade last year, while ASEAN is Canada’s fourth-largest merchandise trade partner, with annual two-way trade of approximately $42 billion.

“The ASEAN region is a major global market of over 677 million people and an economy of over $5 trillion. The Prime Minister will focus on advancing significant new export opportunities for Canadian industries, from agriculture and energy to innovation and technology,” the PMO statement said. “Canada’s new government is focused on transforming our economy from one that is reliant on a single trade partner to one that is stronger and more resilient to global shocks.”

Carney’s trip comes as Ottawa looks to ramp up its Indo-Pacific trade strategy and strengthen connections with allied countries amid ongoing trade disputes with its southern neighbour. The United States is imposing 35 percent tariffs on Canadian products that are not exempt under the U.S.-Mexico-Canada Agreement, in addition to sector-specific tariffs on copper, steel, aluminum, and automobiles.

One of Carney’s key cabinet ministers was in China this week ahead of his own trip to Asia. Foreign Affairs Minister Anita Anand met with her Chinese counterpart Wang Yi on Oct. 17 to discuss trade tensions between the two nations as well as areas of cooperation. Wang characterized Anand’s visit as moving toward a “restart” of Canada-China relations.

Canada and India also signed an agreement Oct. 13, seeking to rebuild ties that frayed in 2023 when then-Prime Minister Justin Trudeau accused India of having a hand in the June 2023 assassination of pro-Khalistan activist Hardeep Singh Nijjar in B.C. New Delhi has denied any involvement.

The Oct. 13 agreement forges a “roadmap” to closer ties between the two countries on trade, energy and technology, and defence. Anand characterized the visit as being aimed at “elevating the relationship between our countries, while maintaining our law enforcement and security dialogue and expanding our economic relationship.”

In addition to meetings with India and China, Canada signed a bilateral trade agreement with Indonesia last month, its first with an ASEAN nation. The deal scrapped and reduced tariffs on more than 95 percent of Canada’s exports to Indonesia.

South Korean company Hanwha Ocean, meanwhile, is one of two finalists for a contract to build new Canadian submarines and Carney has previously said he will also visit the company’s shipyard on his Asia trip. Canada is working to find builders for four of its older Victoria-class submarines, which are slated to be decommissioned by 2035.

South Korea is also a key market for Canadian liquid natural gas (LNG). Canada sent its first shipment there in mid-July, while Malaysian demand for LNG is also growing.