Bali, Indonesia, September 20, 2013

Archived - Canada Strengthens Economic Cooperation With Asia-Pacific Partners

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The Honourable Kevin Sorenson, Minister of State (Finance), met with finance ministers from the Asia-Pacific Economic Cooperation (APEC) today in Bali, Indonesia, to promote global economic growth and to build bilateral relationships with this fast-growing region of the world. He also promoted Canada’s positive record of creating jobs and growth amid a still-fragile global recovery.

“Canada’s economy continues to perform relatively well, but we are not immune to global events. Beyond our own borders, Canada continues to play an active role in strengthening the global economy and making it more stable than when the global economic crisis first emerged,” said Minister Sorenson.

Canada is a world leader in the creation of efficient public-private partnerships for building public infrastructure. Canada, together with other APEC economies, has put forward a plan to improve investment conditions and to promote private sector investment in infrastructure in the Asia-Pacific region. This plan will encourage increased participation by Canadian investors in economic development in the region.

“Prosperity within APEC economies and around the world depends on maintaining the commitment to free and open trade and investment,” said Minister Sorenson. “An open and rules-based global trading system is necessary to support global growth and development. This region is of great importance to Canada, which is why Canada has signed and is pursuing trade agreements with Asia-Pacific economies, including negotiations with Japan and the Trans-Pacific Partnership countries.”

Canada plays an active role in G-7, G-20 and APEC discussions to develop measures for a strong, sustainable and balanced global economy. At the recent G-20 Summit in St. Petersburg, Russia, Canada committed to achieving a federal debt-to-GDP (gross domestic product) ratio of 25 per cent by 2021—ensuring that Canada’s net debt remains by far the lowest in the G-7 and among the lowest in the advanced G-20 countries.

For further information, media may contact:

Bram Sepers
Office of the Minister of State (Finance)

Jack Aubry
Media Relations
Department of Finance

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