Monday October 27, 2025 | JUALA LUMPUR, MALAYSIA [Reporting from VICTORIA, BC]
by Mary P Brooke | Island Social Trends
Today Prime Minister Mark Carney continues on his trade mission in the Asia-Pacific region, heading from Malaysia to Singapore.
Yesterday in a press conference with travelling Canadian media, Carney in Malaysia made broad comments about new directions for Canada’s economy in the context of trade diversification including the Asia-Pacific.
He also took questions about the current status of trade talks between Canada and the United States.
“We are ready to have discussions with the Americans when they wish to have those discussions,” said Carney regarding US President Trump’s recent declaration that trade talks are off (in response to Ontario’s ad featuring Reagan economics).
“Relations rebuild over time when they have changed for the worse,” Carney said — more with regard to relations with China, but the mindset could be applied to the scenario with the US as well.
He pointed out the distinction between relationship and transaction.
Building strong at home:
Canada is the second largest trading partner of the US — an important supplier and a large customer, the prime minister said.
The return from building at home is much larger than the trade hit with the turbulent United States, Carney outlined.
The continued goal is to “build strong at home”.
Prime Minister Carney advances new trade, economic, and security partnerships with ASEAN nations
News Release from the Prime Minister’s Office – October 27, 2025
The world is more dangerous and divided. The scale and speed of recent trade shifts and technological developments mean that Canada’s economic strategy must change dramatically. To that end, Canada’s new government is focused on transforming our economy from one that is reliant on a single trade partner to one that is stronger and more resilient to global shocks. That is why the Prime Minister recently announced that Canada is embarking on an ambitious new mission to double our non-U.S. exports in the next decade.
Today, the Prime Minister, Mark Carney, concluded his visit to Kuala Lumpur, Malaysia, where he attended the Association of Southeast Asian Nations (ASEAN) Summit and met with world leaders and investors to strengthen trade, technology, and energy partnerships. The Prime Minister accelerated negotiations on a new Canada-ASEAN free trade agreement, which would unlock new markets and opportunities for Canadian workers and businesses across the Indo-Pacific region. The Prime Minister also announced $25 million in technical assistance to ASEAN nations to accelerate and effectively implement a Canada-ASEAN free trade agreement.
During his visit, the Prime Minister held bilateral meetings with the leaders of Laos, Malaysia, the Philippines, and Vietnam, and met with the leaders of the European Council and South Africa. The Prime Minister thanked the Prime Minister of Malaysia for his leadership as ASEAN Chair for 2025 and discussed the Letter of Intent signed between Canada and Malaysia to deepen investment in liquified natural gas, oil, nuclear, and renewable energy. During the Prime Minister’s discussion with the President of the Philippines, the leaders announced their intent to imminently launch negotiations on a new free trade agreement between Canada and the Philippines, with a goal of concluding the agreement in 2026. The Prime Minister also met with ASEAN-based institutional investors and business leaders to discuss the opportunities that Canada presents.
The Prime Minister visited CAE’s training facility in Kuala Lumpur, as Malaysia Airlines signed a deal with CAE to purchase a Canadian-built flight simulator. On the margins of the ASEAN Summit, Canada’s new government announced $226,000 to expand the BlackBerry Cybersecurity Centre of Excellence into an international hub for cyber intelligence and security innovation – a testament to Canada’s ever-growing economic footprint in the region.
The Prime Minister also met with the CEO of PETRONAS, Tengku Muhammad Taufik. PETRONAS is one of the world’s largest energy companies and a major investor in LNG Canada Phase 1 – the liquified natural gas facility in Kitimat, British Columbia. With Phase 2 of this project now referred to the Major Projects Office, the government is exploring new opportunities to expand our partnership and strengthen Canada’s role as a reliable energy supplier.
In a world of rapid change, Canada’s new government is focused on what we can control. We are growing a stronger economy – one that is built on the solid foundation of thriving Canadian workers, strong Canadian industries, and bolstered by diverse international trade partners.