Mark Carney begins his first trip to Asia as Canadian prime minister at the weekend, hoping the region can help him cut his country’s economic dependence on the US by doubling its trade with the rest of the world.
“We are re-engaging with the global giants India and China,” Carney said this week as he announced the target of increasing trade with non-US partners by almost $300bn over a decade.
Canada’s goods trade with the Indo-Pacific was worth C$261bn in 2024, accounting for about 18 per cent of its global trade but dwarfed by its C$1.3tn in annual trade with the US.
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