BUSINESS - Trade between ASEAN and Canada hits $16.5bn

Bilateral trade between Canada and ASEAN reached US$16.5 billion in fiscal year 2013, state media reported on Thursday. Citing Canada’s Minister of International Trade, in Burma for the 3rd ASEAN Economic Ministers Summit in Naypyidaw, The New Light of Myanmar said that bilateral trade is growing by more than seven percent each year. Stock of Canadian direct investments in ASEAN increased by 34 percent to $5.7 billion, the report said.