Canada and the Philippines conclude talks on free trade deal, Mark Carney says
Canada has concluded free trade talks with the Philippines, Prime Minister Mark Carney announced Saturday in Manila, as Ottawa seeks to reduce reliance on the US amid strained relations.
Carney made the announcement during the ASEAN summit, where he is representing Canada. The agreement comes as Canada continues to seek alternative trade partners following repeated trade disputes with the United States.
The prime minister emphasized that this deal is part of a broader strategy to develop "a dense web of reliable partners" to create more opportunities for Canadian businesses and reduce dependence on the US market.
Trade Expansion
Carney stated that his government would work quickly to finalize the agreement, which is expected to come into force in 2027. The signing process will take approximately six months to complete.
This is good news for Canadians in the agriculture sector, in the aerospace sector, even in AI, and our businesses working across forest products, mining, energy, services and beyond.
Broader ASEAN Deal
Ottawa is also pursuing a comprehensive trade agreement with the 11-member ASEAN bloc. According to Carney, negotiations on this broader arrangement have been "substantially completed" and are progressing alongside the bilateral deal with the Philippines.
Canada has set a goal to double non-US exports by 2035, aligning itself more closely with European partners while navigating ongoing tensions with the Trump administration.
Related
