Indo-Pacific strategy good first step, but more details needed: business leaders
The Canadian Chamber of Commerce says Canada's Indo-Pacific strategy is a good first step, but more details are needed on how the country can close gaps at home that could impede the strategy's success.
President and CEO Perrin Beatty says while much of the strategy focuses on the countries in that region, more work needs to be done to improve transportation infrastructure in Canada in order to ensure the country can capitalize on increased trade with the Indo-Pacific area.
The comments came after the Liberal unveiled its Indo-Pacific strategy on Sunday, announcing funding for a wide array of things including military spending, business grants and visa processing.
The Indo-Pacific strategy promises $2.3 billion in funding to help Canada form closer ties with countries in the region, marking a move to diversify trading in the region amid concerns about China's influence.
The government says it plans to expand funding for groups looking to pursue trade and investment opportunities in the area, launch a series of trade missions and negotiate trade and investment agreements with Indo-Pacific partners.
The government announced completion of its ports modernization review in October, promising legislative amendments to help make Canada's ports more efficient and to attract investment.