Canada and Philippines conclude free-trade negotiations

Negotiations concluded

Prime Minister Mark Carney arrived in Manila on Friday for a short visit to the Association of Southeast Asian Nations summit and said Canada and the Philippines have concluded negotiations on a Canada-Philippines Free Trade Agreement.

“Today, we have successfully concluded negotiations on a Canada-Philippines Free Trade Agreement. We will move just as fast to finalize the deal and bring it into force next year,” Carney said in prepared remarks released ahead of a media availability in Manila.

Trade goals and context

Carney said the agreement with the Philippines could help triple trade between the two countries to more than $10 billion annually by 2035.

The Philippines, long one of Southeast Asia’s fastest-growing economies, is experiencing a slowdown, with gross domestic product expanding 2.1 per cent in the third quarter of 2026. International institutions, however, expect growth to rebound above five per cent next year.

Carney said the agreement is another step in Canada’s strategy to diversify trade away from the United States.

“We are developing a dense web of reliable partners to create more opportunities for our business and more choice for Canadians, while reducing our reliance on the United States.”

“Whether you’re a Canadian tech start-up, canola farmer, pork producer, or small business owner, looking for an expanding middle-class market, this agreement will make it easier, cheaper and faster to sell your goods to this region as a whole,” Carney said.

Industry reaction

Canadian pork producers will be watching closely to see whether the agreement helps resolve long-standing restrictions on pork exports to the Philippines, though details of the deal have not yet been released.

Kyle Larkin, president and CEO of the Canadian Meat Council, said “the conclusion of negotiations toward a Canada-Philippines free trade agreement is an encouraging development for Canada’s pork industry and the longstanding relationship between our two countries.”

While a proposed Canada-ASEAN free trade agreement has not yet been finalized, it would give Canadian exporters improved access to a market of nearly 700 million consumers across Southeast Asia. The regional bloc’s combined economy is worth about US$6 trillion, according to Carney’s remarks.

Why it matters

The concluded negotiations mark progress in Canada’s effort to expand trade ties in Asia and reduce reliance on the United States, with potential implications for Canadian exporters including pork producers and canola farmers.

Sources

• ctvnews.ca: Mark Carney: PM touts Canada-Philippines trade deal
• thestar.com: Mark Carney signs Philippines trade agreement

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.