The potential of an Indo-Pacific approach to support Canada’s economic recovery strategy
Since the outbreak of COVID-19, School of Business associate faculty member Juan Navarro has been analyzing how an Indo-Pacific approach can support Canada’s economic recovery strategy in a post-pandemic stage. Navarro presented his analysis on the Indo-Pacific potential, first at a panel organized by the Canadian International Council (CIC) in December 2020, and second through a recent article published on the prestigious Trade Ready Blog powered by the Forum for International Trade Training (FITT). Navarro included in his review some of the reasons why the Indo-Pacific vision needs to be considered as a strategic trade policy to support businesses at a post-covid stage, but also some of the challenges to implementing it.
Navarro pointed out that defining an Indo-Pacific vision is an important decision for Canada’s future and it demands a collective effort from both the private and public sectors and added that “the Indo-Pacific approach, if implemented effectively, might represent a milestone for Canada in the post-COVID era and beyond; one that’s based on equitable, diverse and inclusive trade.”
According to Navarro, some of the reasons to support this Indo-Pacific approach are, supporting Canada’s diversification efforts, consolidating business relationships and collaboration with current trading partners, and promoting resiliency in supply chains. Navarro concluded that Canada would need to commit itself to a mid-term and long-term action plan that creates and strengthens relations with the Indo-Pacific countries, all supported by a strategic vision.
Read the full analysis in the Trade Ready blog.