Minister Sidhu to visit Singapore and Vietnam to diversify Canada’s trade and attract new investments

• The Indo-Pacific is Canada’s second-largest regional merchandise export market, after the United States, with annual two-way merchandise trade valued at $262 billion in 2024.
• Singapore is Canada’s largest source of foreign direct investment (FDI) from Southeast Asia. In 2024, FDI from Singapore to Canada totalled $7.8 billion and Canadian direct investment in Singapore totalled $22 billion.
• In 2024, Canada-Singapore merchandise trade totalled $3.7 billion, up from $3.2 billion in 2023. In 2024, Canada’s merchandise exports to Singapore were valued at $2.2 billion, and its merchandise imports from Singapore at $1.5 billion.
• Vietnam is Canada’s largest merchandise trading partner in the Association of Southeast Asian Nations region. In 2024, Canada-Vietnam merchandise trade totalled $15.7 billion, up from $14 billion in 2023.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership has been in force in Vietnam since January 2019.