Canada wants free trade with the Asean bloc. A deal with the Asean bloc that includes Thailand, Malaysia, Singapore, Indonesia, Philippines, Brunei, Vietnam, Laos, Burma and Cambodia, would give Canada access to 650 million consumers. Canada is also eyeing free trade with Argentina, Brazil, Paraguay and Uruguay. A trade deal with China is also in the works, which if successful would make Canada the first western nation to reach a free trade deal with China.

Asean and China are working to upgrade the Asean-China free trade area. China will discuss free trade possibilities with the UK. Britain aims to increase its exports to 35 per cent of GDP after leaving the EU by increasing trade ties with other world trade members. Australia and Indonesia are on the brink of signing a free trade deal.

A full-fledged agreement on a free trade zone between Iran and the EAEU will be concluded by early 2022. BIMSTEC (Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation) is pushing for free trade agreement and regional connectivity. The regional grouping comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Thailand and Sri Lanka. For India, BIMSTEC is a natural choice to fulfill its key foreign policy priorities of neighborhood first and act east policy.