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Policy makers like Ng have decided they don’t want to be in the room when a Russian has something to say
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May 25, 2022 • 1 hour ago • 3 minutes Read • 18 comments Mary Ng, with Canada’s Minister of Trade, Catherine Tai, in Ottawa, on May 5, in Ottawa. Photo by Blair Gable/Reuters
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As Russia’s Economic Development Minister Maxim Reshetnikov prepared to deliver his opening remarks at the 2022 Asia-Pacific Economic Cooperation (APEC) meeting of trade ministers over the weekend in Bangkok, Canada’s Mary Ng held a walkout with Japan’s trade ministers . United States, New Zealand and Australia.
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Ng said in an interview on May 25, “As Canada’s Minister of Trade, it was really important that we send a message, but it was also a way of encouraging my colleagues to stand up for a rules-based trading system.” There was also the opportunity.” His defiance of the rules and his heinous behavior against Ukraine is not something Canada can stand for.”
The protest was the latest example of a shift in global cooperation. Over the years, officials from democracies such as Canada and Australia, along with fellow members of international institutions such as the International Monetary Fund and the G20, would attend meetings, regardless. Now, policymakers like Ng have decided they don’t want to be in that room when a Russian has something to say. Finance Minister Chrystia Freeland and Bank of Canada Governor Tiff McCalem participated in a similar boycott at the G20 meeting in April.
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That geopolitical rearrangement could have an impact on the direction of global trade. Already, the US Treasury Secretary, Janet Yellen, is talking about “friend-shoring”, a twist on “near-shoring” that suggests US trade policy will prioritize political and security concerns over economic efficiency. . Prime Minister Justin Trudeau’s government is on board. Addressing the APEC ministers, Ng said it would be important to “rebuild and re-imagine” business partnerships in a post-COVID world, prioritizing inclusive trade and working to make supply chains greener and more resilient. “We need to lead with our values,” she said.
It was really important that we send a message, but it was also an opportunity to encourage my colleagues to stand up for the rules-based trading system.
Marie Ngo
As it loosened ties with Russia, an APEC member country, Ng strengthened other partnerships in the region, declaring Canada’s intention to join the Digital Economy Partnership Agreement (DEPA), which seeks to support digital trade. Would like to facilitate cooperation. (New Zealand, Chile and Singapore are its founding members.)
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“This is important because we need to protect our customers, we need to protect our consumers,” Ng said from Singapore, where he is working on Trudeau to make the country an information hub between Canada and Southeast Asia. Paused to announce the intention of the government. “We need to make sure businesses have rules, not just how to conduct their businesses digitally.” He hopes that the agreement will also ease e-commerce issues to make things easier for businesses.
On the visit, Ng also announced the creation of a Canadian business gateway into Southeast Asia, the latest example of the Trudeau government attempting to use its network of trade executives to remove some friction from international commerce. Smaller Asian countries have emerged as important targets as relations with China become increasingly difficult. Ng launched free trade talks in December with the Association of Southeast Asian Nations, or ASEAN, a 10-member trade bloc that includes Singapore, Thailand, Vietnam and Indonesia.
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Ng said she would conduct a “design study” to find out what kind of gateways Canadian exporters, investors and businesses would need to facilitate the search for opportunities in Asia, and vice versa. “Singapore is already a really important partner, and we want to use this dynamic market as a gateway to the whole of Southeast Asia,” Ng said.
America is also establishing new relations in this area. However, Canada was excluded from the new Indo-Pacific agreement announced by President Joe Biden on May 23, raising questions about whether Canada had been turned down. Lynette Ong of the University of Toronto told Politico that “it’s becoming a trend that the US isn’t getting Canada on board on a lot of Indo-Pacific agreements,” adding that “Ottawa should be rightfully concerned.”
Asked if he thinks Canada was frozen by the Biden administration, Ng said, “I don’t see it as a loss at all,” pointing out that Canada is a member of the Trans-Pacific Partnership, While the U.S. was not.
Ng said the US and Canada are integrated as trading partners and that their Asian strategies are “very complementary”.
• Email: [email protected] | Twitter: marissakoultan
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