Canada has signed a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia, marking Ottawa’s first-ever bilateral trade deal with an ASEAN member.
Prime Minister Mark Carney hosted Indonesian President Prabowo Subianto in Ottawa on Wednesday to announce the agreement, which aims to cut tariffs, remove non-tariff barriers and create a more transparent framework for trade and investment.
According to the Prime Minister’s Office, the deal will open new opportunities for Canadian industries including clean technology, agri-food, infrastructure, critical minerals and financial services. Once fully implemented in 2026, it will lift or reduce tariffs on more than 95% of Canada’s current exports to Indonesia, covering products such as wheat, potash, wood and soybeans.
To boost investment ties, Export Development Canada (EDC) and the Indonesia Investment Authority (INA) signed a Market Leader Partnership Agreement under which the EDC will provide up to $825 million in debt financing. Both sides said the deal will help attract investment in infrastructure, digital services, renewable energy and advanced manufacturing.
Carney and Subianto also welcomed a cooperation agreement between the Business Council of Canada and Kadin, Indonesia’s Chamber of Commerce and Industry, aimed at expanding trade missions and strengthening business networks.
Alongside the trade pact, Canada and Indonesia signed a Defence Cooperation Agreement, building on a memorandum reached last month. The new deal will expand collaboration in military training, maritime security, cyber defence and peacekeeping.
The Prime Minister’s Office said the agreements are a key step in Canada’s Indo-Pacific Strategy and send ‘a strong signal’ of both countries’ commitment to peace and stability in the region.
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The upcoming meeting in Miami will include Russian President Vladimir Putin’s special envoy Kirill Dmitriev, U.S. envoy Steve Witkoff, and Donald Trump’s son-in-law Jared Kushner, as the Trump administration seeks to mediate between the warring sides.
The World Bank has approved $700 million in new financing to support Pakistan’s efforts to stabilise its economy and strengthen public service delivery, marking a significant boost to the country’s reform agenda.
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