Question Period Note: Canada and the Indo-Pacific Strategy (IPS)

Amid global uncertainty and challenges to the rules-based international trading order, it is more important than ever to diversify our external trade - a core strategic objective of Canada's IPS.

• Launched in 2022, Canada’s IPS deepens engagement in the region by supporting peace, economic growth, people-to-people ties, and sustainable development.
• The Strategy advances Canada’s interests while defending our values. It positions Canada as a reliable, forward-looking partner in the region
• The Indo-Pacific will represent 50% of global GDP by 2040. Home to 65% of the world’s population and major cities, it offers vast opportunities for Canadian businesses and workers.
• The Strategy boosts trade ties with key partners. Canada concluded Comprehensive Economic Partnership Agreement (CEPA) talks with Indonesia, is progressing on an ASEAN FTA, and launched exploratory FTA talks with the Philippines.
• Canada is promoting trade in the Indo-Pacific through Team Canada Trade Missions. Since 2023, missions have visited Singapore, Japan, Malaysia, Vietnam, Korea, Indonesia, the Philippines, and Australia, with the latest mission currently underway in Thailand and Cambodia

Encompassing 40 economies, over four billion people and some $47 trillion in economic activity, the Indo-Pacific region is the world's fastest growing-region and home to four of Canada's top 10 trading partners - six in the top 15. Canada's Indo-Pacific Strategy, representing nearly $2.3 billion investment over five years, is a whole-of-government response to the rising importance of this critical region. Every issue that matters to Canadians - national security, economic prosperity, democratic values, public health, the quality of our environment, human rights - will be shaped by developments in this region, and the relationships Canada has with its Indo-Pacific partners.

The Strategy builds on decades of investment and engagement in development, security, and trade partnerships, as well as shared histories and cultures. It is structured around five interconnected strategic objectives:

Promoting peace, resilience, and security;

Expanding trade, investment, and supply chain resilience;

Investing in and connecting people;

Building a sustainable and green future; and

Canada as an active and engaged partner to the Indo-Pacific.

It is in Canada's immediate national interest to expand trade and investment and build supply chain resilience with both traditional like-minded and emerging partners in the Indo-Pacific. Through new initiatives and long-term policy orientations under the second strategic objective Expanding trade, investment, and supply chain resilience, Canada will strengthen its priority economic partnerships, advance our regional trade policy agenda, and promote areas of Canadian strengths to capitalize on the region's growth and dynamism.

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