Manila:The Philippines and Canada have successfully concluded negotiations for a free trade agreement (FTA), marking a significant advancement in enhancing trade and investment relations between the two nations.
According to Philippines News Agency, the announcement was made during a bilateral meeting between Philippine President Ferdinand R. Marcos Jr. and Canadian Prime Minister Mark Carney, held on the sidelines of the 49th ASEAN Summit and Related Meetings.
Both countries are targeting the formal signing of the agreement next year and are actively working to complete the necessary steps to implement the pact promptly. President Marcos emphasized the Philippines' commitment to transforming its strategic partnership with Canada into actionable initiatives. He highlighted the progress made since his visit to Vancouver in July, transitioning from diplomatic to strategic relations.
President Marcos also acknowledged the nearly one million Filipinos residing in Canada, underscoring their role as a crucial element in the enduring friendship between the two countries. Prime Minister Carney expressed appreciation for the progress made in bilateral relations and praised President Marcos for advancing a comprehensive strategic partnership, which includes the ambitious trade agreement.
The two leaders reiterated their dedication to cooperation in defense and other sectors, aiming to expand their strategic partnership beyond diplomatic interactions.