Canada is working to finalize three significant trade agreements before the end of 2026, according to International Trade Minister Maninder Sidhu. Negotiations are underway with Mercosur, the Association of Southeast Asian Nations (ASEAN), and India. These efforts align with the government's objective to double non-U. S. exports within the next decade.
Sidhu noted that Ottawa has teams of negotiators deployed globally almost every week. Recent activity included a team in Brazil negotiating a free-trade agreement with Mercosur, a South American trade bloc comprising Argentina, Bolivia, Brazil, Paraguay, and Uruguay. Prime Minister Mark Carney recently spoke with Argentina's President Javier Milei, welcoming the progress in trade talks and highlighting Canada's investment in Argentina's mining sector.
The government's spring economic update indicated a positive trend, with non-U. S. goods and services exports increasing by $33 billion in 2025 compared to 2024. Furthermore, Indian Commerce Minister Piyush Goyal is expected to bring a large delegation to Canada in late May, signaling a strong commitment to strengthening trade relations. While Prime Minister Narendra Modi will not be part of the delegation, the visit underscores the importance of the Canadian-Indian trade partnership.
These trade initiatives are part of a broader strategy, with the Canadian government boasting about securing 20 strategic trade and defence agreements globally in the past year. Prime Minister Carney has undertaken numerous international trips to foster these relationships, including visits to China and India. These efforts reflect Canada's commitment to diversifying its trade partners and fostering economic growth through international collaboration.
