Canada and the Philippines conclude talks on free trade deal
Canadian Prime Minister Mark Carney has announced that Canada and the Philippines have finished negotiating a free trade agreement. Ottawa is seeking to reduce its reliance on the US.
Canada and the Philippines wrapped up negotiations on a free trade agreement on Saturday, 14 November, Canadian Prime Minister Mark Carney announced. He is in Manila for the summit of the Association of Southeast Asian Nations (ASEAN). Ottawa is looking for new trading partners to lessen its dependence on the US after relations with Washington broke down.
Talks began a year ago. In a social media post, Carney wrote that they had already been concluded, saying Canada is diversifying its trade partnerships to build a stronger and more resilient economy.
Deal to take effect in 2027
Speaking to the media on the sidelines of the summit, the prime minister said his government would work quickly to finalise the agreement and that it would come into force in 2027. He said signing is expected to take around six months. Carney described the deal as good news for Canadians in agriculture and aerospace, and even AI, as well as for businesses in forest products, mining, energy, services and other sectors.
Broader deal with ASEAN
Canada also hopes to secure a wider trade agreement with the 11-member ASEAN group. According to Carney, negotiations on it have been "substantially completed". He called Saturday's announcements part of a strategy of building a dense web of reliable partners, giving businesses more opportunities and Canadians more choice, creating better jobs for workers and reducing Canada's relative reliance on the United States.
Canada has been aiming to double its non-US exports by 2035 and has been aligning itself more closely with Europe. This push was prompted by repeated clashes with US President Donald Trump over trade.
What comes next
Trump is due in Manila early next week, then travels on to China for the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen. Carney is scheduled to go next to Cambodia before also arriving in China.
