The Department of Trade and Industry (DTI) expressed its commitment to advancing bilateral trade ties during exploratory discussions for a potential free trade agreement (FTA) between the Philippines and Canada.
DTI Secretary Cristina Roque noted the significance of strengthening economic collaboration as the two countries celebrate 75 years of diplomatic relations.
“The DTI is proud to participate in discussions that could pave the way for a free trade agreement, opening new markets, attracting investments and driving innovation to support long-term economic growth for both countries,” Roque said at the Team Canada trade mission gala reception in the first week of December.
The Philippines’ efforts to enhance its trade and investment landscape have the support of President Ferdinand R. Marcos Jr.’s administration, she said.
Key initiatives like the Corporate Recovery and Tax Incentives for Enterprises (CREATE More) Act reinforced the country’s position as a top destination for global investments, fostering an environment conducive to sustainable growth and economic collaboration.
DTI agencies, including the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA), stand ready to assist Canadian businesses in exploring opportunities in priority sectors, further enhancing bilateral trade prospects, said Roque.
The gala served as a platform to deepen ties and reaffirm a shared vision for resilient trade relations.
“I am confident that this trade mission will lead to meaningful partnerships between Canadian and Filipino business leaders. Under President Marcos Jr.’s ‘Bagong Pilipinas’ agenda, this potential FTA will create high-quality, better-paying jobs for Filipinos. Together, we can make it happen in the Philippines,” Roque said.
