The Asia Pacific Centre (APC) was established in 2014 with the goal of building and strengthening ties with markets, customers and investors in the Asia Pacific Region and bridging the gap between investment interest in the region and available opportunities to do business. One of the key markets that the APC is focusing is South Korea.
Canada-Korea Free Trade Agreement (CKFTA) promotes trade relationships between Canada and Korea
“The Canada-Korea Free Trade Agreement (CKFTA), Canada’s first free trade agreement in the Asia-Pacific region, entered into force on January 1, 2015. This agreement provides Canadian exporters with preferential access to the world’s 11th-largest economy and the fourth-largest in Asia, with an annual GDP of nearly $1.8 trillion and a population of more than 50 million.”
Source: Government of Canada
Ever since the signing of the free trade agreement, the Asia Pacific Centre started developing closer business ties with the Korean community.
1. Participated in Minister Fast’s trip to Korea in February 2015
- This is a multi-sector trade mission with the aim of exploring business opportunities in the South Korean market and the benefits for Canadian businesses of the implemented Canada-Korea Free Trade Agreement.
- Cities visited during this trip included Seoul and Busan. At least 5 local companies shown their interest in the Korean market and one company followed the VEC to Korea.
- During the trip, the VEC established deeper ties with Canadian Government officials in Korea and the local Korean business community which paved the path for future business cooperation. The VEC also had a better understanding of the Korean market through conferences, one on one meetings and site visits.