Pasay City, Philippines—The Philippines and Canada are set to explore the possibility of Free Trade Agreement (FTA) discussions in 2025, according to Department of Trade and Industry (DTI) Secretary Cristina A. Roque. Speaking at the Team Canada Trade Mission Gala Reception on December 5, Secretary Roque emphasized the potential benefits of such an agreement in strengthening trade and investment ties between the two countries.
The announcement comes as the Philippines and Canada mark 75 years of diplomatic relations. Secretary Roque noted that an FTA could create new market opportunities, encourage investment, and foster innovation, contributing to economic growth for both nations.
She also highlighted recent policy reforms in the Philippines aimed at enhancing the country’s investment climate. These include the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE More) Act, which aims to attract foreign investment and promote sustainable economic development.
The DTI, along with its agencies such as the Board of Investments and the Philippine Economic Zone Authority, is ready to support Canadian companies in exploring business opportunities in priority sectors.
The gala reception was attended by Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng, Canadian Ambassador to the Philippines David Hartman, members of the Canadian delegation, Senator Francis Tolentino, and other officials. The event provided a platform to reinforce bilateral economic ties and explore potential areas of collaboration.
“This trade mission presents an opportunity to build meaningful partnerships between Canadian and Filipino business leaders,” Roque stated. “Under the ‘Bagong Pilipinas’ agenda, a potential FTA could contribute to job creation and economic development in the Philippines.”
Stay on top of supply chain logistics news updates at The Supply Chain Report. Visit ADAMftd.com for free international trade tools.
#PhilippinesCanadaTrade #FreeTradeAgreement #InternationalTrade #SupplyChainNews #EconomicDiplomacy #TradeNegotiations #GlobalMarkets
