Canada will spend some $2.3 billion in the Indo-Pacific region in an effort to increase military spending to strengthen ties with Asian partners and counter China’s influence.
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Foreign Affairs Minister Mélanie Joly released the Trudeau government’s Indo-Pacific strategy on Sunday.
The amount invested will increase the presence of the Navy in the area, in addition to ensuring security in terms of intelligence and cybersecurity.
The objective is thus to allow increased cooperation with regional partners in the East and South China Seas, said “Bloomberg”, shortly before the official announcement.
The minister’s document also describes Beijing as an “increasingly disruptive world power”. Canada wishes to protect itself once morest all forms of foreign interference. It will invest C$750 million in sustainable infrastructure projects in hopes of attracting further capital from Canadian pension funds.
The Canadian strategy has five main aspects, including promoting peace and increasing trade and investment.
“As far as China is concerned, we know that there is a battle for influence taking place in the region,” Mélanie Joly said in an interview with Bloomberg. So we need to step up our presence.”
“For a long time, we have defined ourselves through the relationship we have with Europe,” she added. It is time to look to the Pacific.”
In recent years, Canada has had difficulty diversifying its economy, which depends mainly on the United States and China as main partners.
According to Bloomberg, the proportion of merchandise exports has been roughly the same since 1997 in the Indo-Pacific region with a rate of nearly 7%, compared to 8.6% only for Beijing, in the last year.
“The future of the Indo-Pacific is ours, we have a role to play in shaping it,” Mélanie Joly said in a statement. To this end, we must be a genuine and reliable partner. Today, we are presenting a truly Canadian strategy – one that addresses every aspect of our society. This strategy sends a clear message: Canada is present in the region and it is here to stay.”