Canada and the Philippines Target 2026 Free Trade Agreement
- brg_news_room
- Jul 3
- 1 min read
Canada and the Philippines have agreed to conclude negotiations on a bilateral free trade agreement by the end of 2026 as part of a broader strategic partnership covering trade, defence, energy, labour mobility and tourism. The agreement was announced by Canadian Prime Minister Mark Carney following talks with Philippine President Ferdinand Marcos Jr. in Vancouver during the Philippine leader’s first official visit to Canada in 11 years. The partnership forms part of Canada's efforts to expand trade relationships beyond its traditional dependence on the United States, while the Philippines continues to broaden its security partnerships beyond the US amid rising tensions with China in the South China Sea.
Carney said negotiators are on track to complete the Canada–Philippines FTA before the end of this year. The Canadian government estimates that the agreement could triple bilateral trade by 2035 and create additional export opportunities for Canadian agricultural and forestry products. The Philippines, with a population of around 113 million, is one of Southeast Asia’s fastest-growing economies and Canada's sixth-largest merchandise export market within the Association of Southeast Asian Nations (ASEAN). “In a more dangerous and divided world, economic strength must be reinforced by shared security,” Carney said alongside Marcos, signalling that economic cooperation and defence ties would advance in tandem.
Source: First Post
