GYEONGJU — Prime Minister Mark Carney has concluded his first official visit to Asia, capping a week of diplomacy that included two major summits and a closely watched meeting with Chinese President Xi Jinping, which both sides described as a “turning point” in Canada–China relations.
The prime minister began his tour at the ASEAN Summit in Malaysia, where he sought to reposition Canada as a dependable trade and investment partner, emphasizing opportunities in clean energy, infrastructure, and technology. He then traveled to Gyeongju, South Korea, for the Asia-Pacific Economic Cooperation (APEC) forum, where he reinforced his government’s message of economic transformation and diversification.
“We have to transform our economy,” Carney said at his closing press conference. “Transform it from one reliant on a single trade partner to one that’s more resilient to global shocks.”
During the trip, Carney announced that Canada aims to finalize free trade agreements with Thailand, the Philippines, and the broader ASEAN bloc within the next year, signaling a push toward greater Indo-Pacific engagement. He also signed a defence and security partnership with South Korea, expanding cooperation on regional stability, supply chains, and technological innovation.
But as he returns home, Carney now faces a different kind of challenge — political rather than diplomatic. On Tuesday, his government will unveil its first federal budget, a key test for the minority Liberals. The budget is expected to lay out concrete steps for what Carney has repeatedly called an “economic transformation,” focusing on growth, sustainability, and resilience amid global uncertainty.
The budget’s passage, however, is not guaranteed. With the Liberals holding a minority in Parliament, the government will need support from opposition parties or abstentions to survive the upcoming confidence vote. Opposition leaders have already begun outlining their demands ahead of budget day.
When pressed about whether he believes the budget will pass, Carney avoided speculation but stood firm on principle. “I am 100 per cent confident that this budget is the right budget for this country at this moment,” he said. “This is not a game.”
Asked whether he’s prepared to face an election if the budget is defeated, Carney’s response was characteristically measured but resolute: “I’m always prepared to stand up for the right thing.”
As his plane departs Asia, Carney leaves behind a trail of renewed partnerships — and returns to Ottawa, where the next battle will be waged not on the world stage, but in the House of Commons.