A trade accord with the Philippines would widen Canada's commercial ties in Southeast Asia as Ottawa pursues trade diversification; the two governments closed negotiations in Manila and are targeting a 2027 signing.
Canadian Prime Minister Mark Carney and Philippine President Ferdinand R. Marcos Jr. witnessed Canadian International Trade Minister Maninder Sidhu and Philippine Trade and Industry Secretary Maria Cristina Roque exchange a signed joint statement. The governments have not announced when the agreement could take effect.
The Philippine government says the pact addresses small businesses, access to markets for goods and services, and investment. It describes Filipino small businesses as potential beneficiaries but has not set out eligibility criteria or the form of any support. Ottawa's announcement gives no tariff schedule or detailed obligations.
Canada's Nov. 14 announcement says the agreement could lift Canadian exports to the Philippines as much as threefold by 2035, with agriculture and forest products among the sectors that may benefit. A Nov. 4 Canadian release projected a tripling in bilateral trade. The announcements use different measures and give no forecast baseline or explanation for the difference.
Global Affairs Canada reported C$3.4 billion in merchandise trade between the countries in 2025, 7.4% higher than in 2024. Canada exported C$1.1 billion in goods to the Philippines and imported C$2.3 billion. Services trade totaled C$3.2 billion in 2024.
Sidhu called trade diversification Ottawa's “Plan A.” Canada has cited reducing reliance on one trading partner and improving resilience to global shocks as reasons to broaden its trade ties.
Canada also said negotiations on a separate trade agreement with the Association of Southeast Asian Nations (ASEAN) were substantially concluded, with a 2027 signing target. ASEAN has 11 members, including the Philippines and Thailand. Ottawa estimates that pact could add nearly C$2 billion to Canada's GDP and nearly 14,000 Canadian jobs once in force; those projections concern the ASEAN agreement, not the Philippines deal.
Global Affairs Canada records exploratory discussions with the Philippines in 2015 and December 2024, followed by the launch of formal negotiations in October 2025. A 2027 signature is the next stated milestone for the bilateral pact; the governments have given no ratification timetable or entry-into-force date.
