Canada and the Philippines will commence their first round of negotiation for a bilateral free trade agreement (FTA) next week, the Department of Foreign Affairs (DFA) announced Saturday.
In a text message to the Philippine News Agency, Foreign Affairs Spokesperson Angelica Escalona said the Philippines will host the formal negotiations from Feb. 18 to 20.
President Ferdinand R. Marcos Jr. and Canadian Prime Minister Mark Carney agreed to initiate the talks, intending to conclude them within the year, during their bilateral meeting in Kuala Lumpur, Malaysia in October last year.
According to the Canadian foreign affairs ministry, Canadian stakeholders have a “high level of support” for the potential Canada-Philippines FTA, seeing its benefits of increased trade.
Before the formal talks, the Canadian government received two submissions from provinces and territories, backing the negotiations and highlighting similar potential for services, energy, and resources, and attracting foreign talent and expertise through the FTA.
Canadian export-oriented sectors, such as sugar, beef, grains, and pulses, also showed strong support for the possible deal, calling for the removal of tariffs and non-tariff trade barriers to facilitate a stable and predictable trading environment.
Canadian supply-managed sectors, such as dairy, poultry, and eggs, likewise indicated that they are not opposed to negotiations.
Top Canadian exports to the Philippines include mineral ores, meat, cereals, wood, machinery, electronics, fertilizers, and aircraft and parts.
The top imports from the Philippines are electronics, machinery, animal and vegetable oils, leather and rubber products, scientific instruments, and preparations of vegetables.
At the 7th Meeting of the Philippine-Canada Joint Commission on Bilateral Cooperation on Feb. 12, the Philippine government described the development on FTA talks as a milestone, signaling the “positive momentum” in the two nations’ relations.
“The Philippines considers Canada a credible, reliable, and principled partner in supporting both our bilateral and collective efforts in promoting peace and security in the region,” said Foreign Affairs Undersecretary for Policy Leo Herrera-Lim, who led the Philippine delegation.
Canadian Assistant Deputy Minister for Indo-Pacific Weldon Epp, who represented Canada, recognized the importance of working together to advance mutual interests.
The delegations also discussed advancing economic and development cooperation, as well as collaboration on energy security, critical minerals, and cybersecurity. (PNA)
