AdvertisementAdvertisementCanadian Prime Minister Mark Carney and Indonesian President Prabowo Subianto look on during a signing ceremony for the Indonesia-Canada Comprehensive Economic Partnership Agreement on Parliament Hill in Ottawa, Canada, on Sep 24, 2025. (Photo: AFP/Dave Chan)26 Sep 2025 09:18AM (Updated: 26 Sep 2025 09:27AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST MONTREAL: Canada has signed a bilateral free trade agreement with Indonesia, which aims to eliminate or reduce tariffs on over 95 per cent of Ottawa's exports to its largest market in Southeast Asia.Several experts told AFP the strategic agreement is being made in the context of global economic turmoil, exacerbated by the protectionist policies of the United States."This is the right deal at the right time with the right partner," Canada's Prime Minister Mark Carney said, adding that Indonesia is Canada's largest export market in Southeast Asia.Indonesian President Prabowo Subianto called the agreement a "historic moment" during an official visit to Ottawa on Wednesday (Sep 24), as it is the first of its kind with an Association of Southeast Asian Nations (ASEAN) member country."I'm very lucky to be the Indonesian president who brings this back to Indonesia," Prabowo said.Canada's exports include wheat, potash, timber and soybeans.The Comprehensive Economic Partnership Agreement (CEPA) agreement allows Canada to strengthen its presence in the Indo-Pacific region, in line with the strategy that was unveiled by the previous administration under Justin Trudeau.The agreement also provides for the elimination of more than 90 per cent of tariffs on Indonesian imports, a boon to the export of garments and leather goods to the North American market.Simultaneously, a defence cooperation agreement was signed aimed at strengthening collaboration in military training, maritime security, cyber defence and peacekeeping.Canada seeks pact with Southeast Asian countries to diversify trade Source: AFP/fhNewsletterMorning BriefSubscribe to CNA’s Morning BriefAn automated curation of our top stories to start your day.NewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST