Phl-Canadato conduct exploratory talks for a bilateral FTA in June

The Philippines and Canada are set to conduct exploratory talks for a bilateral free trade agreement (FTA) next month, an official of the Department of Trade and Industry said.

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“We have a scheduled joint economic commission meeting in Canada this coming first week of June, and in parallel, I will meet my counterpart to discuss the possible trade agreement,” Trade Undersecretary Allan B. Gepty said on the sidelines of the Businessworld Economic Forum on Thursday.

He said that the exploratory talks will discuss the parties’ levels of ambition, extent of commitment on various chapters, readiness in certain areas, and the FTA’s possible scope or coverage.

Asked which products will benefit from a bilateral FTA with Canada, Mr. Gepty said that it will include electronics and semiconductors and some agricultural products.

“With the fast-paced advancement in technology, all these products or technologies developed are highly dependent on electronics, semiconductors, integrated circuit designs, and others. So that's why it's not surprising that exports of these products are also increasing,” he said.

“And we do have some agricultural products in which we have some comparative advantages, like bananas, pineapples, including processed products of these agricultural products, and of course coconut,” he added.