CPTPP helps raise Malaysia-Canada bilateral trade by 25%
Malaysia has seen a 25% increase in bilateral trade with Canada since 2018, bolstered by the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), which came into force in Malaysia in November 2022.
Malaysia-Canada bilateral trade up 25% since 2018 (Photo: Bernama)
Kuala Lumpur (VNA) - Malaysia has seen a 25%increase in bilateral trade with Canada since 2018, bolstered by theComprehensive and Progressive Agreement for the Trans-Pacific Partnership(CPTPP), which came into force in Malaysia in November 2022.
Canadian Minister of Export Promotion, International Tradeand Economic Development Mary Ng said her country appreciates theresults of economic cooperation between the two countries, and believes thatMalaysia is a friend and an important trading partner of Canada.
As part of Canada's Indo-Pacific Strategy, Ng led a Team CanadaTrade Mission (TCTM) delegation to visit Malaysia from March 24 to 26.
Malayia’s Minister of Investment, Trade, and Industry (MITI)Tengku Datuk Seri Zafrul Abdul Aziz said he discussed investment and traderelations with Mary Ng and expressed his wish for Canada to become a greater tradeand investment partner, especially in Halal industry, renewable energy, carbon capture,utilisation and storage (CCUS) and other fields.
MITI and other ministries and agencies will make efforts tocreate favourable conditions for Canadian businesses to invest in Malaysia, Tengkuadded.
During the visit, the two sides organised many meetingsbetween Malaysian and Canadian businesses. In addition, Mary Ng is scheduledto deliver a speech on empowering women entrepreneurs at Sunway University, andattend the inauguration of BlackBerry's Cyber Security Center of Excellence tostrengthen cyber security partnerships in the Indo-Pacific region.
Canada mainly exports wheat, soybeans andpotash, a key ingredient in fertilisers from Malaysia while importing large amounts of electricaland electronic products from the Southeast Asian n🌺ation./.
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Malaysia-Canada bilateral trade up 25% since 2018 (Photo: Bernama) 
