PH, Canada to begin talks for free trade deal

The Philippines and Canada have agreed to begin negotiations for a bilateral free trade agreement, with the hopes of concluding the talks by 2026.

This was after President Ferdinand Marcos Jr. and Canadian Prime Minister Mark Carney had a bilateral meeting on the sidelines of the 47th Association of Southeast Asian Nations Summit and Related Meetings in Kuala Lumpur, Malaysia.

According to a readout posted on the Prime Minister of Canada’s website, Carney discussed Canada’s goal of doubling its non-US exports in the next decade.

“To that end, the leaders agreed to accelerate negotiations on a Canada-ASEAN free trade agreement, with the intention to conclude negotiations in 2026 during the Philippines’ ASEAN chairmanship,” the statement said.

It added: “The leaders also announced their intention to imminently launch negotiations on a bilateral Canada-Philippines free trade agreement, with the goal of conclusion in 2026.”

The Philippines will chair and host next year’s ASEAN Summits in Manila.

On Sunday, Marcos and Carney also spoke of their nations’ “strong and close relationship.”

“The leaders discussed driving further growth in the strong economic relationship between Canada and the Philippines, which supports over $3 billion in trade, including in manufacturing products, defence, and both conventional and clean energy,” the office of the Canadian prime minister added.

Carney was one of several world leaders Marcos met for a bilateral meeting on the sidelines of the ASEAN Summit in Kuala Lumpur.

Carney also took to X to announce the move to negotiate a free trade agreement with the Philippines.

“President @bongbongmarcos and I are focused on negotiating free trade agreements and strengthening defence cooperation between our nations,” he said on X on Sunday night.

For his part, Marcos said he reaffirmed the Philippines’ strong ties in his bilateral meeting with Carney and thanked him for supporting the Philippines in sharing the commitment to international law and the United Nations Convention on the Law of the Sea.

“We agreed to strengthen cooperation in trade, investment, and energy, and to constructively engage each other as PH takes on the Chairship of ASEAN in 2026,” the President said on Facebook and Instagram. — JMA, GMA Integrated News