Manila:The Philippines and Canada have successfully concluded negotiations for a free-trade agreement (FTA), marking a significant milestone in enhancing trade and investment ties between the two nations. This development was reported by the Philippine News Agency (PNA).

According to BERNAMA News Agency, the announcement was made during a bilateral meeting between President Ferdinand R. Marcos Jr. and Canadian Prime Minister Mark Carney held on the sidelines of the 49th ASEAN Summit and Related Meetings. The two countries are aiming for the formal signing of the agreement next year and are actively working to complete the necessary steps to implement the pact promptly.

In the meeting, President Marcos expressed the Philippines' commitment to transforming its strategic partnership with Canada into actionable outcomes. He highlighted the progress made since his visit to Vancouver in July, moving from diplomatic to strategic partnerships, and noted the nearly one million Filipinos residing in Canada as a core element of the enduring friendship between the countries.

Prime Minister Carney praised the progress in bilateral relations and thanked President Marcos for his efforts in pursuing a comprehensive strategic partnership that includes the trade agreement. He emphasized that the work of the negotiation teams would foster investments in the Philippines and support fair trade practices.

The leaders also reiterated their commitment to expand cooperation in defense and other sectors, with the goal of broadening their strategic partnership beyond just diplomatic relations.