The Philippines and Canada have agreed to pursue a bilateral free trade agreement, with the aim of concluding negotiations before the end of 2026. This announcement follows a series of bilateral meetings between President Ferdinand R. Marcos, Jr. and Canadian Prime Minister Mark Carney in Vancouver, where the two leaders reaffirmed their commitment to deepening cooperation in various sectors.
During the joint press statement, Mr. Marcos emphasized the importance of the bilateral free trade agreement, stating that it would serve as the foundation for the new Canada-Philippines strategic partnership. Mr. Carney also highlighted the significance of the agreement, noting that it would triple bilateral trade by 2035.
The two countries have also signed a Joint Declaration of Intent on Energy and Natural Resources Cooperation, which seeks to strengthen collaboration in critical minerals, processing, and supply chains. Mr. Carney stated that Canada and the Philippines share an interest in expanding mineral production and value-added processing for commodities such as nickel, cobalt, and copper.
The strategic partnership also includes closer defense cooperation, with the signing of the Status of Visiting Forces Agreement expected to enable the armed forces of both countries to train and operate more closely through joint military exercises. Mr. Carney emphasized that this agreement would reinforce collective security.
Additionally, the two countries have agreed to strengthen protections for migrant workers and promote ethical recruitment through a joint declaration of intent on labor and migration. Mr. Carney praised the contributions of Filipino workers to communities across the world and across Canada, emphasizing the need to ensure their rights are protected.
Mr. Marcos welcomed the agreements, stating that they would build on longstanding people-to-people ties while creating a mutually beneficial talent pipeline for the future. He also expressed hope that Canadian federal and provincial governments would continue addressing barriers to recognizing the credentials of Philippine-trained professionals.
The Philippines' recent reclassification by the World Bank as an upper middle-income economy has also been a topic of discussion. Mr. Marcos attributed this improvement to reforms undertaken over the past four years to make the country more attractive to investors, while Mr. Carney described it as a positive sign, reflecting broader economic progress built over recent years.
As the current ASEAN chair, Mr. Marcos invited Mr. Carney to Manila for the 49th ASEAN Summit and related meetings in November. The Philippine president is also scheduled to meet Canadian business leaders from various sectors during his visit to Canada.
