It was an exciting day for trade between Canada and the Association of Southeast Asian Nations (ASEAN) region. Today, the Canadian government announced new market access for live cattle exports to the Philippines, along with sheep and goat genetics exports to Indonesia and the Philippines.
“Increasing trade with fast-growing and dynamic markets such as those in the ASEAN region is an important part of our government’s trade diversification strategy,” says Jim Carr, Minister of International Trade Diversification in a news release.
The ASEAN region is made up of Indonesia, Malaysia, the Philippines, Singapore, and Thailand. As a group, it ranks as Canada’s sixth-largest trading partner.
According to the Canadian Livestock Genetics Association (CLGA), the export market of live cattle to the Philippines is estimated to be valued at $8 million, while the CLGA says exports of sheep and goat genetics to Indonesia and the Philippines add up to $100,000 annually.
Minister of Agriculture and Agri-Food, Lawrence MacAulay says that there recent market access gains are “setting the stage for deeper bilateral economic relations between Canada and the ASEAN region, and will contribute to our government’s goal of reaching $75 billion in agri-food exports by 2025.”
Last year, Canada exported more than $325 million of agriculture products to the Philippines and imported more than $185 million.