Canada Sends Trade Mission to Japan in Diversification Effort

(Deletes the section about Indonesia the second paragraph from the bottom, which contained a factual error. A corrected substitute story follows.) Canada Sends Trade Mission to Japan in Diversification Effort By Hiroki Shimoo Tokyo, June 26 (Jiji Press)–Canada has sent a large-scale business delegation to Japan, reflecting Ottawa’s push to diversify its trade partnerships amid an increasingly unstable global environment. “The world has become a turbulent place. Supply chains built over a decade are being rewired overnight,” Canadian International Trade Minister Maninder Sidhu, who led the delegation, said at a reception in Tokyo on Wednesday. “We’re not just diversifying. We’re building big. We’re looking to (work with) trusted and reliable partners like Japan.” In its diversification efforts, Canada has set a goal of doubling its exports to countries other than the United States, its largest trading partner, by 2035, generating about 300 billion Canadian dollars in additional trade. Against this background, Canada is looking to increase trade with Japan by leveraging its abundant natural resources, such as energy and critical minerals, as well as its strengths in artificial intelligence and agricultural products. “The rules that governed global trade for generations are being rewritten. Partners that we relied on are making decisions that affect us directly,” Sidhu said. “And every boardroom, every CEO and every trade minister is asking the same question: Who can we count on? I’m here to tell you that you can count on Canada.” Toshiro Ino, Japanese state minister of economy, trade and industry, said at the reception that he and Sidhu have confirmed their countries will work together to overcome challenges related to rare earths and other issues. “I hope that our cooperative relationship will deepen in various fields, including resources, energy and the defense industry,” Ino said. The trade mission visited Japan for four days through Friday. It was one of the largest such delegations sent by Canada to Japan, comprising 300 representatives from around 180 organizations. Notably, about 50 of the organizations, the largest share, were from the defense and security sector, a phenomenon not seen before. According to the Canadian Embassy in Tokyo, the mission concluded commercial agreements worth an estimated 1.7 billion Canadian dollars with Japanese partners. At a press conference at the Japan National Press Club in Tokyo on Thursday, Canadian Defense Minister David McGuinty, who also joined the delegation, suggested that the new trend is supported by a series of bilateral agreements concluded in recent years, namely the Comprehensive Strategic Partnership, the Japan-Canada Defense Equipment and Technology Transfer Agreement and the Japan-Canada Agreement on the Security of Information. “Moving forward, Canada knows that what will underpin our strongest relationships will be defense and security,” McGuinty said. “Canada and Japan are not simply partners in trade. We are partners in building resilient economies, advancing innovation and contributing to stability across the Indo-Pacific.” Also behind the growing trade interest is Canada’s Indo-Pacific Strategy, launched a few years ago, which seeks to reinforce its presence in security, trade, people-to-people exchanges and other areas in the region, a Canadian government official said. In line with the strategy, Canada, a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, is actively promoting free trade negotiations with the Association of Southeast Asian Nations. “The architecture will be in place for Canada to increase our exports into the region,” the official said. “Japan is certainly a lynchpin for that entire, whole-of-government objective.” END [Copyright The Jiji Press, Ltd.]