VANCOUVER – President Ferdinand R. Marcos Jr. and Canadian Prime Minister Mark Carney on Thursday (Canada time) reaffirmed their commitment to conclude negotiations for a free trade agreement (FTA) before the end of 2026.
Marcos and Carney accelerate FTA talks
Speaking during a joint press statement at the Vancouver Convention Centre, Marcos said he and Carney agreed to accelerate efforts to finalize the proposed trade deal while negotiations continue for the ASEAN-Canada Free Trade Agreement.
“Prime Minister Carney and I reaffirmed our commitment to conclude the negotiations for a bilateral free trade agreement this year, as we also negotiate the ASEAN-Canada Free Trade Agreement,” Marcos said after his bilateral meeting with Carney.
Expanding trade and building resilient supply chains
Marcos said the Philippines and Canada also renewed their commitment to expand bilateral trade, resist economic coercion, and build resilient supply chains.
Carney cited gains in the negotiations for an FTA and looked forward to the finalization of the agreement.
“Critically, crucially, we're also working hard to finalize negotiations on the Canada-Philippines free trade agreement. You and I committed or intended last year when we met for the first time bilaterally to look to conclude that agreement this year. We're making good progress,” he said, noting the “enormous opportunity” once a free trade deal is implemented.
Philippines among fastest growing economies
Carney acknowledged that the Philippines is among the fastest growing economies in Asia and in the world.
He said he and Marcos have high hopes that the two nations’ bilateral trade would triple by 2035, taking into consideration the “great opportunities” for Philippine and Canada businesses.
“And really this free trade agreement would be the foundation of our new Canada-Philippines strategic partnership,” Carney said.
Marcos to meet Canadian business leaders
Marcos said he would also meet with Canadian business leaders from the mining, information technology-business process management (IT-BPM), and energy sectors during his official visit to discuss opportunities for deeper commercial ties.
He noted that Canadian companies have established a strong presence in the Philippines and expressed optimism that more investments would follow as economic cooperation between the two countries expands.
Bilateral trade figures
The two nations’ bilateral merchandise trade reached USD3.4 billion in 2025, up by 7.4 percent from USD3.2 billion in 2024.
Bilateral trade in services was valued at USD3.2 billion in 2024, higher by 19.9 percent from USD2.7 billion in 2023.
