On 18 February, the Embassy of Canada to Laos hosted a workshop in Vientiane Capital on emerging issues in the Canada-ASEAN Free Trade Agreement (ACAFTA).
This full-day workshop, the second of its kind, outlined Canada’s objectives for ACAFTA chapters addressing emerging trade issues. Canadian experts presented opportunities for enhanced collaboration to support successful negotiations and sustainable development.
More than 30 participants attended the event, including members of the Lao government’s Trade Negotiation Committee and its subsidiary bodies, embassy staff, and Lao entrepreneurs.
The workshop built upon commitments made during the ASEAN Summit in Vientiane in October 2024, where ASEAN and Canada agreed to finalize ACAFTA by the end of this year.
Trade negotiation experts from Laos and Canada explored key topics such as inclusive trade, environmental provisions, and labor standards.
Saysana Sayakone, Director General of the Department of Trade Negotiation and Economic Cooperation at the Ministry of Industry and Commerce, emphasized the importance of ACAFTA for Laos, stating:
“ACAFTA presents a transformative opportunity for Laos to enhance its economic growth and competitiveness by expanding market access, attracting investment, and integrating more deeply into regional and global value chains.
“As we navigate emerging trade issues, including inclusive trade, environmental standards, and labour practices, Laos is committed to ensuring that the agreement supports sustainable development and benefits all sectors of the Lao economy, particularly small and medium-sized enterprises. We look forward to continued collaboration with Canada to maximize the potential of ACAFTA and to promote inclusive and resilient economic growth.”
Chargé d’Affaires of Canada to Laos, Kent Vachon, highlighted the significance of ACAFTA, stating:
“Trade diversification is important for Canada, Laos, and the rest of ASEAN. ACAFTA will drive mutual and sustainable economic growth while making Laos more attractive to investors. This workshop provided a timely platform to advance understanding and collaboration, and included Lao businesses keen to capitalize on the opportunities presented by this trade agreement.”
Since 2021, Canada and the Association of Southeast Asian Nations (ASEAN) have been negotiating ACAFTA. ASEAN is Canada’s fourth-largest merchandise trading partner, with bilateral trade reaching USD 26 billion in 2022 and a trade surplus of just over USD 17 billion in ASEAN’s favor.
For media inquiries, please contact:
Kalakate Jimmy Xaythanith
Kalakate.Xaythanith@international.gc.ca