ASEAN-Canada trade volume was worth a total of $19.9 billion, showing a slight decrease of 2.4% compared to 2019, despite the fact that both sides were affected by Covid-19.
Rath Saravuth, Director General of International Trade and Chair of the ASEAN Economic Ministers ‘Meeting, said that on behalf of Cambodia, the chair of the ASEAN Economic Ministers’ Meeting for 2022 (SEOM Chair for 2022) chaired a preparatory meeting for consultations.
Senior ASEAN Economic Minister (Prep SEOM-Canada Consultation) via video on February 17, 2022 at the Ministry of Commerce.
The meeting was attended by the ASEAN Economic Ministers of each member country, Jay Allen, Director General of Trade Policy and Chair of the Canada Trade Negotiations Group, a delegation of ASEAN member states and Canada, as well as officials from the ASEAN Secretariat.
At the same time, the meeting also highlighted the good relations and cooperation between ASEAN and Canada, especially the growth of ASEAN-Canada trade, which is the driving force for the negotiation of the ASEAN-Canada Free Trade Agreement (ACFTA).
Although both sides are affected by Kovid-19, according to ASEAN data by 2020, the ASEAN-Canada trade volume is worth a total of $19.9 billion, showing a slight decrease of about 2.4. Percentage compared to 2019.
In 2020, the volume of foreign direct investment (FDI) from Canada to ASEAN member countries will reach 12.5 billion US dollars, an increase of 11.7% compared to 2019, while the volume of FDI from member countries. ASEAN to Canada was $1.2 billion, down 0.9 percent from the same period in 2019.
At the same time, the meeting actively discussed and exchanged views on important documents to prepare for the negotiation of ACFTA, including: Term of Reference of the Trade Negotiation Committee (TNC) of ACFTA, – Structure of ACAFTA Negotiation, ACFTA Work Plan and Key Components for ACAFTA Negotiation.
Source: KhmerTimes
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
