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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Blackouts hit Kyiv and several other Ukrainian regions on Tuesday night due to network overload and lingering damage from earlier Russian strikes, according to officials.
Thousands of pro-Palestinian demonstrators marched on Tuesday through the northern Italian city of Udine ahead of Italy’s World Cup qualifier against Israel, ending their mostly peaceful rally with clashes involving police.
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The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the Fund’s Executive Board.
Google has joined forces with the World Bank Group to develop artificial intelligence-based public digital infrastructure aimed at supporting developing markets.
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