Exploratory talks on FTA with Canada to conclude this year, says DTI

THE Philippines and Canada are aiming to conclude the exploratory talks for a free trade agreement (FTA) within the year, an official from the Department of Trade and Industry (DTI) said.

- By Justine Irish D. Tabile

"Our plan is to finish the exploratory talks this year and submit recommendations to our principals after," Trade Undersecretary Allan B. Gepty told Business World.

Mr. Gepty has returned from the second Philippines-Canada Joint Economic Commission (JEC) meeting which was held last week.

"We had a very successful JEC meeting with Canada, and it is good to see that our trade and investment relations are advancing," he said, noting that Canada was the country's 20th largest trading partner last year.

"We discussed several areas of cooperation, such as energy, information and communications technology and cybersecurity, artificial intelligence, agriculture, food security, critical minerals, and the exploratory talks on a possible bilateral FTA," he added.

He said that as Canada is set to diversify, the Philippines has to position itself as a strategic and reliable partner in the Indo-Pacific region.

"This can be bolstered by constant engagement, active private sector involvement, and, ideally, a bilateral FTA," he said.

"In our economic relations, we don't want to limit engagement in trade in goods, but we want to invest in each other's region, collaborate on product development and innovation, and ensure a robust trade in services," he added.