Thank you, President Subianto, for honouring us with your visit to Ottawa today.

It is an honour to welcome you and your delegation, and to be here with Canada’s Minister of International Trade, our Minister of National Defence, Ambassador Dutton, and Special Envoy McKay.

Mr. President, your visit comes at a critical time for Canada, Indonesia, our workers, and businesses.

The world is changing rapidly.

The global trading system is being disrupted.

Geopolitics are realigning. The AI and sustainable transitions are gathering pace.

In Canada, this hinge moment has underscored that we need to build our economy at home and diversify and deepen our trade and security relationships abroad.

Mr. President, we are proud to build those relationships with those who receive new challenges with hope and optimism, grounded in an unwavering belief in the solidarity of all peoples – the message you gave so eloquently to the UN General Assembly yesterday.

In that spirit, I am pleased to announce, alongside President Subianto, that we are signing the Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA).

This is Canada’s first-ever bilateral trade agreement with an ASEAN country.

It is a game-changing agreement.

Once the CEPA is fully implemented, the tariffs on over 95% of current Canadian exports to Indonesia will either be reduced or fully eliminated, making Canadian exports – such as wheat, potash, wood, and soybeans – far more competitive, and giving Canadian workers and businesses greater access to a market of over 280 million people with a GDP of $1.4 trillion.

By eliminating or reducing tariff and non-tariff barriers, we are creating new opportunities for Canadian businesses – particularly in the agriculture, agri-food, and pulp and paper sectors.

This is the right deal at the right time with the right partner. In 2024, Canada exported $2.3 billion worth of goods to Indonesia, making it our largest export market in Southeast Asia.

Indonesia is projected to become one of the world’s top five economies by 2050.

This agreement brings our economies closer together to unlock major opportunities – from agriculture to AI – that will benefit our workers and their families.

To promote further investment in each other’s economies, we are also launching a new Market Leader Partnership Agreement between Export Development Canada and the Indonesia Investment Authority.

This partnership will mobilise $825 million in private capital for Canadian exporters and investors across priority sectors including infrastructure, digital services, renewable energy, and advanced manufacturing.

We also welcome the signing of an agreement between the Business Council of Canada and the Indonesian Chamber of Commerce and Industry, which builds on these efforts.

This memorandum of understanding will strengthen ties between businesses in our two countries. The bilateral trade missions announced under this agreement will create a strong network of trade alliances.

In today’s divided and dangerous world, economic strength must be reinforced by shared security.

That is why Canada and Indonesia are also announcing our new Defence Cooperation Agreement.

We will deepen our collaboration on maritime security, cyber defence, peacekeeping, and military education. This is a critical pillar in Canada’s Indo-Pacific Strategy, and it sends a strong signal to the world that Canada and Indonesia are committed to working together for peace and stability in the region.

With these new trade, investment, and security partnerships, President Subianto and I are creating the certainty and security businesses need to increase trade and investment, and in turn, drive sustained economic growth that benefits and empowers our workers.

We are building on a strong base of commercial ties.

For example, from Tracadie-Sheila, New Brunswick, Xtreme Matting Corp. is supplying thousands of heavy-duty composite matting boards for a major Indonesian oil and gas project. This deal brings in revenue for a Canadian company and creates local jobs while supporting Indonesia’s energy sector.

In Québec, Progesys Inc., a Canadian engineering firm, has secured an unprecedented contract in Indonesia for a nickel smelter project. This smelter is a crucial link in the global battery supply chain. It will power Indonesia's clean energy future while creating good jobs right here in Canada.

These agreements mark a new era of partnership with Indonesia and the Indo-Pacific region – and we hope they are the first of many.

President Subianto, Canada shares your mission to build a stronger, more resilient economy – at home, in Asia, and around the world.

And we stand with your commitment that a multilateral order where peace, prosperity, and progress are not the privilege of a few but the rights of all.

Thank you for building that world with us.