It is reported on May 25th, that in the face of the current U.S. led new trade bloc in the Indo-Pacific region, the Canadian Government should join and sign the agreement as soon as possible to avoid missing out the ongoing negotiations on new trade rules with the countries that accounts for 40% of world GDP.
As for why not to participate in this discussion of reshaping the future of business in the Indo-Pacific region, Trudeau said a few days ago, that Canada is already a member of the Trans-Pacific Partnership Agreement, and therefore they are already prioritized in access to the Asian market. As well, the U.S. is trying to strengthen ties with countries in the region that do not have free trade agreements, which has little impact on the interests of Canadian companies.
While the authorities have not mentioned whether they will join the Biden-led Indo-Pacific talks, Canadian business said that the new Indo-Pacific Economic Cooperation Framework is a trade agreement covering most of Asia. Absent from these talks, Canada could be marginalized from future international trade.
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