PM Carney says Canada, Philippines conclude free-trade talks, target deal by 2027

Summary

• Prime Minister Mark Carney concluded negotiations on a Canada-Philippines Free Trade Agreement during his visit to the ASEAN summit in Manila.
• The deal aims to triple bilateral trade to over $10 billion annually by 2035 & is expected to come into force next year.
• The Philippines economy grew 2.1% in Q3 2026 but is projected to rebound to over 5% growth next year.
• Canadian pork producers hope the agreement resolves long-standing export restrictions, though specific deal details remain unreleased.
• The agreement supports Canada's strategy to diversify trade partners & reduce reliance on the United States.
• Canadian Meat Council President Kyle Larkin welcomed the negotiations as beneficial for the pork industry & bilateral relations.
• A separate proposed Canada-ASEAN free trade agreement could provide access to a market of nearly 700 million consumers with a combined economy worth approximately $6 trillion.