New entity announces strategic commercial program to propel Canadian small and medium-sized enterprises (SMEs) in one of the world’s fastest-growing economic regions with 2024 projected real GDP growth of 4.7%
MONTREAL, Oct. 17, 2024 /CNW/ – The CABC launches the Canada-ASEAN Chamber of Commerce (CACC), dedicated to facilitating commercial opportunities for Canadian businesses, with a special focus on SMEs. The CACC’s mission is to deepen connections between Canadian and ASEAN companies through market and business intelligence, networking events and B2B missions.
“This is an exciting new chapter in Canada-ASEAN relations, particularly for Canadian SMEs who wish to expand or hedge their strategies in the region,” says Wayne Farmer, President of the CABC. “Our 2024 Business Outlook Survey shows that Canadian business sentiment towards the region is stronger than ever with 4 out of 5 businesses surveyed expressing plans to increase trade and investment in ASEAN. The CACC will open more doors in ASEAN, focusing on critical sectors for the region where Canada can provide expertise, such as investments, food security and energy transition.”
The CACC programme will be offered to CABC members and SMEs interested in exploring or expanding their business in ASEAN. The Chamber will host networking events, seminars and workshops in Canada and ASEAN, as well as webinars. It will also provide market access tools such as exclusive entry guides and will arrange sector-specific SME B2B missions to the ASEAN region.
One of the key objectives of the CACC is to establish a unified and consistent collaboration framework across bilateral chambers, Canada-based groups, regional business and trade bodies, and Southeast Asian diaspora business organisations in Canada. This enhanced connectivity within the commerce and trade ecosystem will ensure coordinated and effective efforts to maximize impact.
“Canada’s Indo-Pacific Strategy has called for a whole-of-society lift to deepen our engagement with the Indo-Pacific, including with Southeast Asia, the fastest growing economic region in the world,” says Paul Thoppil, Canada’s Indo-Pacific Trade Representative, Global Affairs Canada. “The enhanced work of Canadian business associations will be key to helping SMEs succeed in the region, driving greater international trade and economic growth.”
The CACC inauguration announcement was made on October 16th, during the first large-scale event hosted by the CABC in Montreal, the Canada-ASEAN Business Conference and Cocktail. The event gathered government officials, ASEAN diplomats and industry leaders to highlight the commercial potential of the region. During the event, Wayne Farmer was awarded the King Charles III Coronation Medal, recognising his exceptional contribution to bilateral collaboration between Canada and ASEAN, and the economic growth that this has generated.
About the Canada-ASEAN Business Council (CABC)
Established in 2012, the CABC is a not-for-profit serving as the voice of Canadian companies in the Canada-ASEAN economic corridor. Headquartered in Singapore and with a Canada office in Montreal, the CABC is Canada’s first and only ASEAN-accredited entity, dedicated to driving deeper Canada-ASEAN economic ties. The CABC is also one of the only three foreign business councils in ASEAN with such accreditation.
As the voice of the Canadian private sector in ASEAN, the CABC represents the interests of nearly 90 leading businesses and organisations, demonstrating the diverse strengths of Canadian businesses and the range of commercial opportunities available in the region. The CABC fosters stronger Canada-ASEAN business and investment ties through policy advocacy, networking events, and research initiatives.
CABC Website: www.canasean.com
CACC Website: https://www.canasean.com/cacc
LinkedIn: Canada-ASEAN Business Council
Twitter: @CAN_ASEAN
SOURCE Canada-ASEAN Business Council
