CANADA RAMPING UP EFFORTS TO EXPAND TRADE AND INVESTMENT, INCLUDING WITH MALAYSIA -- ENVOY

KUALA LUMPUR, March 19 (Bernama) -- Canada is intensifying its efforts to broaden its trade and investment footprint, including strengthening ties with Malaysia and seeking to penetrate new markets, said High Commissioner of Canada to Malaysia Jodi Robinson.

She said that while the push to accelerate trade expansion aligns with a broader strategy influenced by the Trump administration’s actions in imposing tariff hikes, Canada’s efforts to diversify its trade portfolio are not new.

In 2022, Canada launched its Indo-Pacific Strategy, which strongly emphasised trade and investment in emerging markets and positioned diversification as one of its key pillars.

“It’s about focusing on this region, which is one of the strongest, you know, from an economic growth standpoint in the world, and looking at supply chain resilience, looking at where Canadian companies can go into trade,” she said on Tuesday on BERNAMA TV’s ‘The Nation’ programme entitled ‘Canada’s Leadership Amid Global Challenge’.

She said the ramp-up is a whole-of-government approach with all heads of missions worldwide and their teams at the high commissions and embassies looking for opportunities for trade and investment.

“For example, Canada and Malaysia, we can definitely do more when it comes to trade and investment. And so, what are the key areas in which we can really work together? Where is the synergy that we can bring together? And then, of course, (to) increase Canadian exports to Malaysia.

“But we are also looking at Malaysian investment into Canada and vice versa. So, I think there’s definitely room to grow in that respect.

Robinson highlighted that there was a recent trade and investment mission from the Atlantic Canada provinces to Malaysia that looked at potential partnerships in the areas of artificial intelligence (AI), ocean technology, and marine security.

Atlantic Canada, also known as the Atlantic provinces, comprises four provinces in eastern Canada, namely New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.

Robinson said Canada also has expertise in producing clean energy, as 15 per cent of its energy comes from nuclear power, and other forms of clean energy used include geothermal, biomass as well as hydrogen.

“I know Malaysia is also looking into this area (hydrogen), just as Canada is. How do we bring that (both countries together)?

“Canada is very much taking all of its expertise and its talent, and it’s really pushing through in these areas from an innovative perspective. And I think we can bring that collaboration,” she said.

Robinson said other areas of cooperation include the small and medium enterprises segment.

She highlighted that Malaysia, just like Canada, has a significant number of SMEs.

“You need to help those small and medium-sized companies to grow, to export, to look for new markets themselves. So while we’re supporting Canadian companies to come to Malaysia, we also support Malaysian companies going to Canada.”

Robinson, who is marking her first six months in Malaysia, said there is much room for growth in trade and investment.

“I would love to see a trade mission to Canada and work with your high commissioner in Ottawa to figure out the areas in which to collaborate.

Touching on the growing protectionism whereby the rules-based trading system has been challenged, Robinson stressed that Canada has been and will remain a fervent supporter of the rules-based trading system as a middle power country, as a country that depends on trade and exports for its economic growth and security.

“We need these rules, and we need countries to abide by these rules. So we’ve already requested World Trade Organization (WTO) consultations on the implementation of tariffs by the US in terms of aluminium and steel, and we will continue to pursue, as well, under the Canada, US, Mexico Agreement (CUSMA),” she said.

Robinson said Ottawa will continuously support the international rules-based system, not just in trade but across the board, because Canada wants to be seen as a trustworthy country.

Malaysia is one of Canada’s largest bilateral merchandise trading partners in Southeast Asia. Bilateral trade between both countries reached RM8.05 billion as of August 2024, marking a significant 41 per cent increase year-on-year, according to the Ministry of Investment, Trade and Industry (MITI).

MITI reported that bilateral trade surged by 25 per cent following Canada’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which also facilitates duty-free access for goods, eliminating tariffs on Canada’s key exports.

— BERNAMA