Regarding Canada's participation in the Trans-Pacific Partnership (TPP) agreement, PM Trudeau affirmed that Canada attaches importance to global trade collaboration as it helps generate jobs, boost economic development and improve people's living conditions.
Japan and 10 other countries were moving closer to a deal on pushing ahead with the Trans-Pacific Partnership trade pact without the USA, in a sign of how Pacific Rim economies are moving on with globalization despite resistance from Donald Trump.
According to Mexico's Secretary of Foreign Affairs Luis Videgaray, the talks are aimed at amending the existing agreement after US President Donald Trump pulled out from the free trade agreement in January. The discussions in Vietnam have centered around suspending some parts of the agreement in a bid to move forward without America's involvement.
Mexico's trade minister said on Thursday the TPP countries had reached agreement in talks, but he gave no details and said there would be an announcement on Friday. "There is a spectrum - if we think negotiating with three is hard, imagine negotiating with 11", he said, an allusion to NAFTA talks, adding: "if you look from a Canadian perspective, it's never been a better time to diversify".
The specific contents of the agreement will be announced after the 11 countries' leaders confirm it when they gather for the APEC forum on Friday, he added. "Of course there is work to go through, the process of ratification and some side matters that will now need to be worked out".
"We're making really good progress, we're inching closer to a deal, but we're not quite there yet", Mr Ciobo told reporters in Da Nang earlier on Friday.
Former Quebec premier Jean Charest, who is honorary chair of the ASEAN-Canada Business Council, said Vietnam not only shows real economic potential, it also has strong people-to-people links with Canada. "It's a significantly different deal without Canada in it".
Though the economic impact of the agreement will be much smaller without the U.S. - TPP 11 makes up only 13.5% of the world's gross domestic product and 15.2% of global trade volumes, as opposed to 38.2% and 26.5%, respectively, with the U.S. - the deal represents a statement of intent from the Asia-Pacific nations that multilateral trade is the future for them. "Despite reports, there is no agreement in principle on TPP", Champagne said on Twitter. Then-Defense Secretary Ash Carter called it more strategically important than having another aircraft carrier battle group in the Pacific.
There had been confusion over the state of the deal. "We have no update on when they are likely to convene", she said.