Minister Ng Announces Significant Support to Help Canadian Businesses Succeed in Indonesia
December 4, 2024
Today, the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, announced significant support to help Canadian businesses succeed in Indonesia.
“Canada and Indonesia have a strong and growing trade relationship, and we are committed to helping Canadian businesses take advantage of the opportunities this market has to offer,” said Minister Ng. “This support will help our businesses expand into Indonesia, create jobs, and support our economic recovery.”
The support announced today includes:
- $5 million for the Canada-Indonesia Trade and Investment Support Program (CITISP) to help Canadian businesses participate in trade shows, conduct market research, and establish partnerships in Indonesia.
- $2 million for the Canadian Chamber of Commerce in Indonesia (CanCham Indonesia) to support its work promoting Canadian business interests in Indonesia.
- $1 million for the Canada-ASEAN Business Council (CABC) to support its work facilitating business-to-business connections between Canada and Indonesia.
Indonesia is the largest economy in Southeast Asia and is a key market for Canadian businesses. Two-way merchandise trade between Canada and Indonesia was valued at $4.6 billion in 2023, and is expected to grow in the coming years.
The support announced today will help Canadian businesses take advantage of the opportunities in Indonesia and contribute to the growth of our bilateral trade relationship.
Quotes
“This support is a welcome boost for Canadian businesses looking to expand into Indonesia,” said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. “We know that there is strong demand for Canadian products and services in Indonesia, and this support will help our businesses connect with potential customers.”
“The Canada-ASEAN Business Council is pleased to receive this support from the Government of Canada,” said Michael Chambers, President and CEO of the CABC. “This support will help us continue our work to promote trade and investment between Canada and Indonesia.”
Quick Facts
- Two-way merchandise trade between Canada and Indonesia was valued at $4.6 billion in 2023.
- Canada’s top exports to Indonesia include: canola oil, wheat, and machinery.
- Indonesia’s top exports to Canada include: palm oil, rubber, and coffee.
- Indonesia is a member of the Association of Southeast Asian Nations (ASEAN).
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