Philippines, Canada Conclude Negotiations For Free-Trade Agreement

MANILA, Nov 14 (NNN-PNA) -- The Philippines and Canada have concluded negotiations for a free-trade agreement (FTA), marking a major step towards expanding trade and investment between the two countries, Philippine News Agency (PNA) reported.

The two countries announced the development during the bilateral meeting between President Ferdinand R. Marcos Jr. and Canadian Prime Minister Mark Carney on the sidelines of the 49th ASEAN Summit and Related Meetings on Saturday.

The two sides are eyeing the formal signing of the agreement next year and are working to finalise the remaining steps to bring the pact into force as soon as possible.

During their meeting, Marcos said the Philippines is committed to translating its strategic partnership with Canada into action.

“We have made a great deal of progress in that visit, and we have moved on from just the diplomatic relations to strategic partnership,” he said, recalling his visit to Vancouver in July.

Marcos cited the nearly one million Filipinos in Canada as a vital foundation of the two countries’ enduring friendship.

Carney welcomed the progress in bilateral relations, thanking Marcos for pursuing an ambitious strategic partnership that includes a comprehensive trade agreement.

He said the work of the two countries’ negotiating teams would help encourage investments in the Philippines and promote fair trade.

The two leaders also reaffirmed their commitment to cooperation in defence and other areas, as both countries seek to broaden their strategic partnership beyond diplomatic relations.

--NNN-PNA