Canada-ASEAN Business Council Formed
By Sou Sophornnara
Cambodia News
Siem Reap – The Honorable Ed Fast, Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway, announced the creation of the Canada-ASEAN (Association of Southeast Asia Nations) Business Council (CABC), which will focus on growing private-sector cooperation between Canadian and Southeast Asian businesses, according to a press release by Office of the Honorable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway
He adopted 2012-2015 ASEAN work plans to deepen trade and investment ties between Canada and ASEAN. The announcements were made at the first Canada-ASEAN Economic Ministers Meeting held in Siem Reap, Cambodia on 31st August, 2012, on the margins of the 44th ASEAN Economic Ministers Meeting.
“As a Pacific nation, strengthening Canada’s ties with Southeast Asia is consistent with our active and growing presence in the Asia-Pacific region, “he said
He said the tie would be a key part of the government’s broad and ambitious pro-trade plan to create jobs, growth and long-term prosperity for hard-working Canadians.
“Deepening Canada’s trade and investment ties with ASEAN, which is one of the world’s fastest-growing economic regions and that has a combined GDP of $2.1 trillion, is key to our efforts,” he said
During an official visit by Minister Fast to Indonesian October 2011, Canada took an important step toward deeper trade and investment ties with Southeast Asia by adopting a joint declaration of cooperation with ASEAN. The joint declaration called for further cooperation among governments and businesses, including a commitment to exploring ways to deepen economic ties between Canada and ASEAN.
Kevin Speed, President of the CABC said the newly established CABC will play an invaluable role in promoting increased trade and investment between Canada and the ASEAN region by providing a platform for businesses to discuss challenges and opportunities.
He said, “I welcome the opportunity to present the views of our members to Minister Fast and the ASEAN ministers.”
At the ASEAN-Canada meeting, attended by economic ministers from across the region, Minister Fast also took the opportunity to celebrate Canada’s 35 years as a formal Dialogue Partner with ASEAN and to congratulate ASEAN, founded in 1967, on celebrating its 45th anniversary.
ASEAN ranks as Canada’s seventh-largest merchandise trade partner, with merchandise trade valued at $15.5 billion in 2011. ASEAN comprises Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
What is CABC?
The Canada-ASEAN Business Council (CABC) was established to provide a forum for Canadian businesses to promote trade and investment in the ASEAN region, to organize trade missions for members and to serve as an advisory board to senior Canadian policy-makers.
The founding member companies, or CABC executive committee, comprise a number of leading Canadian enterprises that are active in the ASEAN region, including CAE, Research In Motion and the Bank of Nova Scotia. Membership in the CABC is open to Canadian companies conducting business or considering doing business in the ASEAN region and representatives of the Canadian chambers of commerce in the ASEAN region.
The CABC is headquartered, registered in and governed by the laws of Singapore.
The following CABC representatives attended the first ASEAN-Canada Economic Ministers Meeting:
- Kevin Speed, CABC President; and Vice-President and Regional Business Leader in Asia, CAE Singapore (SEA) Pte Ltd
- Glenn Hayworth, CABC Treasurer and Senior Director, Business Affairs, Research In Motion (RIM)Singapore
- Francisco Goncalves, CABC Executive Member and President Director, McElhanney Indonesia, PT
- Kobsak Duangdee, CABC Executive Member; and Vice-President and Country Head, Bank of Nova Scotia(Thailand)
CABC Executive Committee
- The Bank of Nova Scotia Asia Limited
- Research In Motion Singapore Pte Ltd
- McCain Asia
- Talisman SEA Pte Ltd
- CAE International Holdings Ltd
- Fairmont Hotels & Resorts
- Celestica Electronics (S) Pte Ltd
- Export Development Canada
- Sun Life Financial Asia
- McElhanney Indonesia, PT
- Bombardier Transportation (Holdings) Singapore Pte Ltd
- SNC-Lavalin International Inc.
- Manulife Financial
- Canpotex International Pte. Limited
- TELUS International
- Royal Bank of Canada
- Thomson Reuters
- TD Securities