OPENING REMARKS BY MINISTER CHAN CHUN SING AT THE 7th AEM-CANADA CONSULTATIONS ON SATURDAY 1 SEP 2018, 2.45PM AT SHANGRI-LA HOTEL SINGAPORE
Your Excellencies,
Distinguished Delegates,
Ladies and Gentlemen,
1. On behalf of my delegation, I would like to extend a very warm welcome to all of you to Singapore.
a. I would like to express my appreciation to Mr James Carr, Minister of International Trade Diversification, and the Canadian delegation, who have made the trip from Ottawa to join us today.
2. The ASEAN-Canada relationship stretches back almost 40 years.
a. Since then trade and investment has grown , with ASEAN’s merchandise trade with Canada reaching USD13.3 billion in 2017, marking a 4.8 per cent increase year-on-year.1
b. Foreign direct investment from Canada into ASEAN reached USD1 billion in 2017.2
3. We would like to express ASEAN’s appreciation to Canada for your strong and active presence via the numerous initiatives Canada has undertaken together with the ASEAN Member States, to support ASEAN’s internal integration and foster ASEAN-Canada economic relations.
a. The most recent initiative is the launch of the “Canadian Trade and Investment Facility for Development” (CT-TIF) which will provide technical assistance on trade and investment policies reform to eligible countries in the Asia-Pacific.
4. 2018 has been a fruitful year for the growing relationship between ASEAN and Canada.
a. We finalised the Joint Feasibility Study, and conducted both the inaugural Exploratory Discussions and the Second Annual Trade Policy Dialogue.
b. These initiatives have increased mutual understanding between both parties and will contribute to bringing our relationship to the next higher level.
5. Let me encourage Ministers to engage actively with our counterparts from Canada to share ideas and action plans for the good of our people.
6. I would now like to invite Minister Carr to deliver his opening remarks. Thank you.
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1 Source: ASEANStats.
2 Source: ASEANStats.