Ottawa: Canada and the Philippines will commence their first round of negotiations for a bilateral free trade agreement (FTA) next week, the Department of Foreign Affairs (DFA) announced Saturday. In a text message to the Philippine News Agency, Foreign Affairs Spokesperson Angelica Escalona stated that the Philippines will host the formal negotiations from February 18 to 20.
According to Philippines News Agency, Canadian stakeholders have a 'high level of support' for the potential Canada-Philippines FTA, seeing its benefits in increased trade. Prior to the formal talks, the Canadian government received two submissions from provinces and territories backing the negotiations and highlighting potential opportunities in services, energy, and resources. Additionally, the FTA could attract foreign talent and expertise to both countries.
Canadian export-oriented sectors, such as sugar, beef, grains, and pulses, have shown strong support for the possible agreement, advocating for the removal of tariffs and non-tariff trade barriers to foster a stable and predictable trading environment. Even Canadian supply-managed sectors, such as dairy, poultry, and eggs, have indicated no opposition to the negotiations.
Top Canadian exports to the Philippines include mineral ores, meat, cereals, wood, machinery, electronics, fertilizers, and aircraft parts. Meanwhile, the top imports from the Philippines consist of electronics, machinery, animal and vegetable oils, leather and rubber products, scientific instruments, and vegetable preparations.
During the 7th Meeting of the Philippine-Canada Joint Commission on Bilateral Cooperation on February 12, the Philippine government described the progress on FTA talks as a significant development, signaling 'positive momentum' in bilateral relations. Foreign Affairs Undersecretary for Policy Leo Herrera-Lim, leading the Philippine delegation, expressed the Philippines' view of Canada as a credible partner in promoting peace and security in the region.
Canadian Assistant Deputy Minister for Indo-Pacific Weldon Epp, representing Canada, acknowledged the importance of working collaboratively to advance shared interests, including economic and development cooperation, energy security, critical minerals, and cybersecurity.
Source: Philippines News Agency
