Photo courtesy: Presidential Communications Office
The Philippines and Canada have agreed to begin negotiations for a bilateral free trade agreement (FTA), with both sides aiming to conclude the deal by 2026.
President Ferdinand Marcos Jr. and Canadian Prime Minister Mark Carney reached the agreement during their bilateral meeting on Sunday, held on the sidelines of the 47th ASEAN Summit and Related Meetings.
“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 Office of the Canadian Prime Minister said in a statement.
Both leaders also discussed ways to further strengthen Philippines-Canada economic relations, which currently support more than US$3 billion in trade. Key sectors include manufacturing, defense, snd conventional and clean energy.
Carney also highlighted Canada’s new trade mission to double its non-U.S. exports within the next decade.
Both Marcos and Carney welcomed the opportunity for future bilateral visits and committed to maintaining close communication.
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