Image Credit, Gov. Canada. Ng, Social Media Feed
The second Canada-African Union Commission (AUC) Trade Policy Dialogue, held on November 6, 2024, in Toronto, marked a significant step forward in Canada’s strategic commitment to enhancing its trade partnership with African nations. Building on the initial dialogue that began in May 2023, this meeting brought Canadian and AUC officials together to explore pathways for deeper economic collaboration and mutual growth. The agenda was comprehensive, covering topics that span across digital trade, investment policy, state-owned enterprises, and international regulatory reforms.
The exchange between Canada and the AUC underscored a shared vision for promoting an inclusive and rules-based trade and investment landscape. Recognizing the potential for substantial economic gains, both parties focused on issues pertinent to global trade frameworks, including the World Trade Organization (WTO) Agreement on Fisheries Subsidies and reforms to the WTO dispute settlement mechanism. These discussions reflect a broader commitment to modernizing trade rules and enhancing transparency, ensuring that both Canadian and African markets can benefit from predictable and fair trade practices.
At the forefront of the dialogue were Canada’s Minister of Export Promotion, International Trade, and Economic Development, Mary Ng, and AUC Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals, Ambassador Albert Muchanga. They both expressed satisfaction with the outcomes, emphasizing that this partnership is a valuable opportunity to stimulate growth in both economies. In her remarks, Minister Ng highlighted the mutually beneficial nature of this collaboration, stressing the potential for long-term economic prosperity through continued dialogues and strengthened partnerships.
The event concluded with a reception hosted by the Canada-Africa Chamber of Business, which provided a platform for officials, stakeholders, and business leaders to further their conversations and explore additional economic opportunities. This gathering not only celebrated the success of the policy dialogue but also set the stage for future ventures that could open new markets and investment avenues across Africa.
Trade between Canada and Africa has seen a significant surge in recent years. Over the past five years, two-way merchandise trade has grown from approximately $9.7 billion to over $16.3 billion—a 67% increase. Canadian investments in African countries have also been robust, growing at an average annual rate of 4.3% since 2018, reaching $12 billion in 2023. Additionally, African foreign direct investment in Canada amounted to $2.1 billion, highlighting a reciprocal economic relationship that has both growth and resilience.
Following the trade discussions, Canada and the AUC proceeded with a High-Level Dialogue on November 7, where Foreign Affairs Minister Mélanie Joly, Minister Mary Ng, and Minister of International Development Ahmed Hussen reiterated Canada’s commitment to strengthening ties with African nations. This multi-faceted engagement signifies Canada’s approach to building sustainable economic partnerships across Africa—a step that holds promise not only for trade but for wider regional cooperation on economic, social, and environmental fronts.
This commitment to deeper collaboration between Canada and the African Union serves as an important step for international partnerships, emphasizing fairness, sustainability, and shared prosperity as guiding principles for future growth.
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