Latest news with #ACAFTA
The Star
10-07-2025
- Business
- The Star
Asean ministers welcome Asean-Canada Free Trade Agreement
KUALA LUMPUR: Asean Foreign Ministers hailed the Asean–Canada Free Trade Agreement (ACAFTA) as a vital platform to unlock deeper economic collaboration in digital trade, artificial intelligence, green technology, and clean energy, says Wisma Putra. The sectors are seen as critical to the region's sustainable and inclusive growth, it added. This came during the Asean Post-Ministerial Conference with Canada, co-chaired by Lao Foreign Minister Thongsavanh Phomvihane, in his capacity as Country Coordinator for Asean-Canada Dialogue Relations, and Canadian Foreign Minister Anita Anand. The one-hour session brought together Asean's top diplomats as part of a broader effort to strengthen regional ties with like-minded partners at a transformative juncture in global affairs. Wisma Putra said that ministers from across Southeast Asia acknowledged the 'positive momentum' in ongoing ACAFTA negotiations and the agreement's potential to catalyse cooperation in high-growth, future-oriented sectors. The deal, when concluded, is expected to serve as a key economic pillar within Canada's Indo-Pacific Strategy, offering a framework to align regulations, foster innovation, and enhance regional resilience. 'ACAFTA is more than a trade agreement—it's a strategic enabler of Asean's long-term vision for a digitally advanced, green, and inclusive regional economy,' said the ministry in a statement on Thursday (July 10). Wisma Putra also said that the ministers voiced interest in leveraging Canada's technical strengths through existing initiatives such as the Asean Plan of Action for Energy Cooperation (Apaec) and looked forward to the formal adoption of the Asean-Canada Plan of Action (2026–2030), which will map out concrete steps for collaboration in the next five years. Beyond economic matters, the session also touched on shared values and global challenges. 'Malaysia voiced deep concern over the worsening humanitarian crisis in Gaza and reiterated the urgent need for a ceasefire. 'Malaysia emphasised the importance of upholding a fair, rules-based international order grounded in international law and UN resolutions,' said the ministry, adding that Malaysia called on all parties to exercise restraint and underscored the need for a balanced and constructive approach in pursuit of lasting peace in the Middle East.
New Straits Times
10-07-2025
- Business
- New Straits Times
Asean–Canada trade pact, Indo-Pacific strategy to drive sustainable growth, says Wisma Putra
KUALA LUMPUR: The synergy between the Asean–Canada Free Trade Agreement (ACAFTA) and Canada's Indo-Pacific Strategy has emerged as a significant catalyst for sustainable growth, regulatory alignment, and inclusive economic resilience. Wisma Putra said Asean Foreign Ministers welcomed the positive momentum in ACAFTA negotiations, recognising its potential to deepen cooperation in emerging sectors such as digital trade, artificial intelligence, green technology and clean energy. This followed the Asean Post-Ministerial Conference with Canada, co-chaired by Laos Foreign Minister Thongsavanh Phomvihane, in his capacity as Country Coordinator for Asean–Canada Dialogue Relations, and Canadian Foreign Affairs Minister Anita Anand. The statement said that Canada's longstanding support for Asean's sustainability agenda was acknowledged, particularly in areas such as climate change, innovation and disaster management. "Ministers underscored the importance of investing in future generations, citing the success of Canada's Scholarship and Educational Exchanges for Development (SEED) programme," it said. The meeting also highlighted Canada's technical capabilities in energy transition and quantum technologies, with ministers expressing interest in strengthening collaboration through the Asean Plan of Action for Energy Cooperation (APAEC). They also looked forward to the adoption of the Asean–Canada Plan of Action (2026–2030) as a timely opportunity to chart a more ambitious course for future cooperation. Asean also expressed appreciation for Canada's enduring partnership and constructive engagement over the years. "The meeting reaffirmed both sides' commitment to advancing a forward-looking, inclusive agenda centred on peace, sustainability, and shared prosperity. "As the region confronts increasingly complex challenges, Asean and Canada remain united in their pursuit of resilient, rules-based cooperation grounded in mutual respect and common purpose," the statement added. On regional and international developments, Malaysia reiterated its deep concern over the worsening humanitarian crisis in Gaza and called for an immediate ceasefire. The statement added that Malaysia emphasised the importance of upholding a fair and rules-based international order, grounded in international law and United Nations resolutions. "Malaysia called on all parties to exercise restraint and stressed the need for a balanced, constructive approach in pursuit of lasting peace in the Middle East," it said. The meeting is part of the 58th Asean Foreign Ministers' Meeting and related sessions, ahead of Malaysia's 2025 Asean Chairmanship, themed 'Inclusivity and Sustainability', which will feature 24 ministerial-level meetings, including engagements with Asean Dialogue and Sectoral Dialogue Partners.
The Sun
04-07-2025
- Business
- The Sun
Anwar and Carney push for swift ASEAN-Canada free trade deal
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and Canadian counterpart Mark Carney have agreed to accelerate negotiations for the ASEAN-Canada Free Trade Agreement (ACAFTA) to foster mutual economic benefits. The leaders emphasised this during a phone conversation, where Anwar congratulated Carney on his Liberal Party's recent election victory. Anwar, currently in Paris, highlighted the shared commitment between Malaysia and Canada under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Both nations advocate for open, fair, and inclusive multilateral trade. The discussion also covered strategic cooperation in trade, investment, defence, clean energy, and digital transformation. Anwar welcomed Petronas' ongoing role in the LNG Canada project, calling it a key pillar of bilateral energy collaboration with potential for future green initiatives. Anwar extended an invitation to Carney for an official visit to Malaysia, aiming to deepen ties between the two countries.
New Straits Times
04-07-2025
- Business
- New Straits Times
Anwar, Carney seek a swift conclusion to Asean-Canada Free Trade Agreement talks
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and his Canadian counterpart Mark Carney have expressed hope the Asean-Canada Free Trade Agreement (ACAFTA) negotiations can be concluded as soon as possible for mutual benefit. In a post on the social media platform X, Anwar also said Carney and he, in a phone conversation, stressed the importance of strengthening the Asean-Canada Strategic Partnership. Anwar, currently on an official visit to Paris, contacted Carney to congratulate him on his Liberal Party's victory in Canada's recent federal election. "Malaysia and Canada, as members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), share a commitment in upholding the principles of free, open and multilateral trade that is fair and inclusive. "Malaysia remains committed to enhancing bilateral relations with Canada, encompassing strategic areas such as trade and investment, defence cooperation, clean energy, digital transformation and emerging technologies," he added. Anwar also welcomed Petroliam Nasional Bhd's (Petronas) continued involvement in the LNG Canada project in British Columbia, saying it represents a strong symbol of energy cooperation between the two countries and has the potential to be a catalyst for future green and energy transition initiatives. He also extended an invitation to Carney to make an official visit to Malaysia in the near future to further strengthen the bond of friendship between both nations.
