Metro Manila, Philippines — The Philippines and Canada are seeking to formally sign a free-trade agreement (FTA) next year after concluding negotiations on the sidelines of the 49th ASEAN Summit and Related Summits.
In a bilateral meeting on Saturday, Nov. 14, President Ferdinand Marcos Jr. and Canadian Prime Minister Mark Carney said they are looking forward to expanding trade and investment between the two nations.
Marcos said the nearly 1 million Filipinos in Canada serve as a linchpin for the two countries’ enduring friendship and are all the more reason to bring the agreement into force as soon as possible.
He also affirmed the Philippines’ commitment to advance its strategic partnership with Canada beyond diplomatic relations.
For his part, Carney welcomed the progress in bilateral relations with the Southeast Asian nation and thanked his counterpart for pursuing a strategic partnership with like-minded nations, including working toward a comprehensive trade agreement.
The two leaders also discussed investment opportunities under the Luzon Economic Corridor, particularly in transportation, infrastructure, agri-food, food logistics and cold-chain technologies to support development in key industries.
According to Malacañang, the FTA will open new business opportunities for Filipino entrepreneurs, small and medium-sized businesses and workers to reach more customers and tap into new sources of income in Canada.
It added that the pact will cover goods, services, investment and digital trade, among other areas.
With reports from the Philippine News Agency
