Philippines, Canada Begin Talks for Free Trade Agreement

Manila and Ottawa have formally initiated exploratory discussions for a potential Free Trade Agreement (FTA), with the first round of talks scheduled to begin in the first half of 2025.

Bilateral Commitment

In a joint statement, Canada’s Minister of Export Promotion, International Trade and Economic Development Mary Ng and Philippine Trade Secretary Ma. Cristina Roque emphasized the importance of crafting an agreement to provide businesses with a predictable framework.

“Free trade agreements give us the rules of engagement, and I’m very much looking forward to those negotiations,” Ng said during a press conference in Taguig City.

Ng, who is leading Canada’s largest-ever trade mission to the Philippines, expressed optimism that the FTA discussions could progress faster than similar agreements due to prior groundwork, including Canada’s FTA efforts with the Association of Southeast Asian Nations (ASEAN).

“I am confident that we will be able to put some real energy behind the negotiations. We’re both committed to doing that,” Ng added.

Benefits Across Sectors

The FTA is expected to benefit a range of industries in both countries, including:

• Agriculture
• Infrastructure
• Energy

The Philippines also expressed interest in areas such as digital transformation, artificial intelligence, tourism, food production, critical minerals, and green mining.

Growing Trade Relations

According to the Philippine Statistics Authority, two-way trade between the Philippines and Canada reached $1.49 billion in 2023, highlighting the growing economic ties between the two nations.

Broader Trade Efforts

The Philippines is concurrently pursuing FTAs with other partners, including the United Arab Emirates, and has recently launched formal negotiations with Chile.

As discussions with Canada move forward, both governments aim to finalize a deal that will foster greater economic cooperation and development.