Canada has concluded talks with the Philippines on a free trade deal, Canadian Prime Minister Mark Carney announced on Saturday, as Ottawa continues to look to reduce its reliance on the US following a breakdown in relations with Washington. One year ago, Canada and the Philippines launched talks on a new free trade agreement, and negotiations have already been concluded, Carney wrote in a social media post.
Carney, who is in Manila to attend the Association of Southeast Asian Nations summit, stated that his government would work quickly to finalise the deal for it to come into force in 2027. He told reporters it is expected to take around six months for the agreement to be signed. The agreement is considered good news for Canadians working in agriculture, aerospace, AI, forest products, mining, energy, and services.
Ottawa is also hoping to secure a broader trade deal with the 11-member ASEAN group as a whole, with negotiations on such an arrangement substantially completed per Carney. The announcements form part of a strategy to develop a dense web of reliable partners, create more opportunities for businesses, and reduce relative reliance on the United States. Canada has been seeking to double non-US exports by 2035 and aligning itself more closely with Europe following repeated trade clashes with US President Donald Trump.
Trump is due to arrive in Manila early next week before heading to China for the Asia-Pacific Economic Cooperation summit in Shenzhen. Carney is scheduled to head next to Cambodia before also arriving in China.
Source: Euronews. Read the original report ↗