Currently, Canada is considering entering the Trans-Pacific Partnership and talks are underway. The Trans-Pacific Partnership is a 9-member country partnership with Canada, Japan and Mexico pushing for entry. This partnership allows a free market across the countries involved. However, for Canada, things seem a little complicated to gain access to the partnership. This is because of its supply management strategy of agricultural products, which it is required to abolish and come up with a new one in order to enter the free-tariff trade. The Trans-Pacific Partnership is a free-tariff trade, which if Canada joins, will have to restructure its supply chain management strategy to allow free trading with the other members.
Currently if Canada, Japan and Mexico join, the trade will have combined population of 750 million and a total of $25 trillion. This makes the trade a worthy course to engage. This will offer Canada the chance to diversify its trade and relationship with emerging markets globally especially in Asia. This will also give Canada the chance to a wider export market and job opportunities. The prime minister is having talks with the United Sates to see the way forward in joining the partnership. In the past week, the talks have been ongoing in Honolulu between the United States and Canadian prime minister among other members of the partnership to continue developing it. During the meeting, Canada said it aims at selling oil and gas in Asian countries as well as agricultural products.
ASEAN, Association of Southeast Asian Nations, is a geo-political and economic organization made up of ten countries located in the Southeast Asia. It is served with the purpose of political-security, economic and social cultural issues among the members. Currently the meeting is being held in Bali, with the aim of addressing security issues as well as economic and social cultural; issues. The meeting has managed to invite heads of states of the member countries including the American President Obama.
The meeting has been themed ASEAN Community in a Global Community of Nations. The meeting has expressed sympathy for the victims of natural disasters in Southeast of Asia. It has declared solidarity from government of the affected areas. The hosting president said it is set up to petition for cooperation within the Southeast Asia region with an intention of reaching the communities of ASEAN by 2015. Further, in the meeting, changes in the world have been recognized and new economic threats as well. The meeting has went ahead to identify other threats needing attention such as uncertainties in global economy, fluctuation in food security, water, energy issues, and climate changes. However, there was a comment that despite the changes there are great hopes for the ASEAN members.
Moreover, the meeting, which will take five days, is set to address some issues that were raised by the hosting president in the opening speech. These issues are taking concrete measures aimed at strengthening the three pillar of ASEAN community through implementing relevant action plans. Secondly, address the issue of promoting economic growth for a flexible economy with ability to face the volatility of the global economy. It also aims at maintaining good leadership as well as centrality of ASEAN members in cooperation of regional architecture. Finally, it aims at addressing stability of security of ASEAN and East Asian region as well to strengthen the role of ASEAN within the global community. These are some of the achievements and progress of the meeting so far considering it commenced on November 17, and continues for five days.