A PARTNER IN FOOD SECURITY: Canada’s Opportunity for Agri-Food Trade with ASEAN
Despite being the fifth largest exporter of agriculture and agri-food goods worldwide and a global leader in safe, high-quality products, Canada’s trade with the Association of Southeast Asian Nations (ASEAN) underperforms relative to its potential. According to economic modelling by the CD Howe Institute, Canada’s agricultural and agri-food exports to ASEAN were 22.4% or CAD 482 million below their estimated potential between 2017 and 2019.
Negotiations towards a Canada-ASEAN Free Trade Agreement (FTA) and Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA) are a crucial first step in addressing this challenge. In a highly competitive and heterogenous market, however, a more comprehensive strategy is required to align Canada’s value proposition with ASEAN’s interests—namely in food security.
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