Canada, Philippines conclude negotiations for free-trade agreement, aiming for 2027

详细摘要

Canada is also pursuing a broader trade agreement with the ASEAN bloc, which includes the Philippines and 10 other countries such as Thailand.

Prime Minister Mark Carney and his Philippine counterpart have concluded talks for a free-trade agreement, which is expected to be formally signed next year.

“A ship that stays in the harbour is safe, but that’s not what a ship is for. And it takes a leader to take the ship out of the harbour into choppy waters and reach a destination,” Carney told Philippine President Ferdinand Marcos Jr. in Manila.

Carney and Marcos were meeting on the sidelines of the Association of Southeast Asian Nations summit.

Both leaders signed a document that formally ends negotiations for the Philippines-Canada Free Trade Agreement, which had started just over a year ago. Ottawa aims to have the actual deal signed next year.

The event took place Saturday in Manila’s time zone, which was Friday evening in Canada.

The ASEAN summit involves 20 heads of government, including guests from outside the region such as U.S. President Donald Trump and Brazilian President Luiz Inacio Lula da Silva.

Southeast Asia is one of the world’s fastest growing economic regions and the ASEAN bloc includes nearly 700 million people.

Canada is also pursuing a broader trade agreement with the ASEAN bloc, which includes the Philippines and 10 other countries such as Thailand.

Ottawa says trade between Canada and ASEAN countries amounted to $52.3 billion last year, a fifth larger than the previous year. The group is key to Carney’s goal of doubling exports to countries other than the U.S. by 2035.

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