New York, 21 September 2022 (TDI): Foreign Minister of Canada Mélanie Joly met with
Foreign Minister of Indonesia Menteri Luar Negeri at the sidelines of the UNGA 77th session.
Both ministers discussed G20 cooperation, particularly preparations for G20 Summit and concrete deliverables.
Furthermore, they discussed Indonesia’s presidency of the G20, the upcoming Leader’s Summit, and the ways both states can deepen their diplomatic ties.
Indonesia and Canada will celebrate 70 years of diplomatic relations this year. Both Ministers discussed the completion of the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) and the increase in Canadian investment.
The G20 is a crucial forum for Canada to influence global economic, financial, and trade policy concerns. Canada’s involvement provides the opportunity to reach a consensus with other members on issues pertaining to economic stability and growth in Canada and internationally.
With @Menlu_RI, my Indonesian counterpart, we discussed their presidency of the G20, the upcoming Leader’s Summit and the ways we can deepen our ties. pic.twitter.com/V9OjQxEESw
— Mélanie Joly (@melaniejoly) September 21, 2022
The Canadian government is dedicated to developing trade and investment with large, rapidly rising markets such as Indonesia.
Indonesia is a member of the G20 and has the largest economy in Southeast Asia. With a population of 270 million and a gross domestic product of over $1.4 trillion, the Indonesian market represents a substantial opportunity for Canadian producers, manufacturers, and service providers.
Canada-Indonesia Economic Ties
Canada and Indonesia have robust business ties. Indonesia was Canada’s twenty-fourth largest merchandise trading partner in 2020, with total bilateral merchandise trade of $3.4 billion.
Also read: Canadian Foreign Minister visits Indonesia
In that year, Canadian exports and imports of goods had respective values of $1.8 billion and $1.6 billion.
Indonesia is the most important export market for Canadian agricultural products, industrial commodities, and natural resources in Southeast Asia.
A Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA) aims to assist Canadians in realizing the full potential of the dynamic, rapidly expanding market, while upholding labor rights and promoting environmental sustainability.
