Canada concludes negotiations for two new free trade agreements with the Philippines and ASEAN – unlocking greater access to a market of more than 700 million people for Canadian businesses
November 14, 2026 Manila, Philippines
Canada is transforming our economy to be less reliant on a single trading partner and more resilient to global shocks. Southeast Asia is one of the world’s fastest-growing economic regions and a key partner in Canada’s effort to secure new trade partners, attract new investment, and create more choice and lower costs for all Canadians.
To these ends, the Prime Minister, Mark Carney, travelled to Manila, Philippines, to represent Canada as Guest of the Chair at the 49th Association of Southeast Asian Nations (ASEAN) Summit and to hold a bilateral visit with the President of the Philippines, Ferdinand Marcos Jr.
The Prime Minister announced the substantial conclusion of negotiations toward an ASEAN-Canada free trade agreement (ACAFTA). This is a transformative agreement that will create more choice, more customers, and greater sovereignty for Canadians. ASEAN has a population of almost 700 million people and an economy of close to $6 trillion. The agreement will expand Canada’s integration into Asian supply chains and create more predictable conditions for Canadian workers and businesses. Once in force, the ACAFTA is expected to add nearly $2 billion to Canada’s GDP and create nearly 14,000 Canadian jobs, particularly in agriculture and manufacturing. The remaining steps will be completed as quickly as possible, with the ambition of signing the agreement in 2027.
The Prime Minister announced $5 million in assistance to help ensure that every economy across ASEAN has the ability to support the agreement’s swift ratification and to equally benefit from it once in force.
During the bilateral visit, Prime Minister Carney and President Marcos Jr. advanced the Canada-Philippines Strategic Partnership. They announced the conclusion of negotiations for a Canada-Philippines free trade agreement, just one year after they announced their intention to pursue it. Both countries are now working toward its signature in 2027. The Philippines has an economy of $680 billion and a market of more than 110 million people, and it is one of the fastest-growing economies in Asia. Once in force, this agreement could increase exports up to three times by 2035, and provide Canadian businesses the access and certainty they need to compete and win in this market, particularly in agriculture and forest products.
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Source: Canada PMO