AsianFin -- Canada is aiming to secure duty-free access for up to 95% of its exports to Indonesia within the next eight to 12 months, International Trade Minister Maninder Sidhu said on Wednesday, following the signing of a landmark trade agreement with one of Southeast Asia’s largest markets.
The Comprehensive Economic Partnership Agreement (CEPA) marks Canada’s first trade deal in the Indo-Pacific region under Prime Minister Mark Carney, who took office earlier this year with a focus on diversifying Canada’s export markets beyond the United States.
Sidhu highlighted that the agreement will strengthen bilateral trade, enhance investment flows, and support Canadian businesses in tapping the rapidly growing Indonesian market, which has a population exceeding 275 million.
The CEPA is expected to gradually remove tariffs on a wide range of Canadian exports, including agricultural products, technology, and manufactured goods, while also opening opportunities for Indonesian firms in Canada, creating a framework for mutually beneficial economic engagement.
“This agreement underscores Canada’s commitment to deepening ties with dynamic economies in the Indo-Pacific,” Sidhu said, noting that trade diversification is a strategic priority for Canada’s long-term economic growth.
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