Canada and Philippines sign MOU to boost investment and pursue free‑trade pact

The Philippines and Canada signed a memorandum of understanding in Vancouver, witnessed by President Ferdinand Marcos Jr., to encourage private‑sector investment and deepen economic cooperation. The MOU between the Philippine Chamber of Commerce and Industry and the Business Council of Canada aims to leverage complementary industries, critical minerals and energy projects for mutual growth.

Prime Minister Mark Carney and President Marcos also pledged to pursue a Canada‑Philippines free‑trade agreement, enhance defence and maritime cooperation in the Indo‑Pacific, and expand ties with Canada’s one‑million‑strong Filipino community. Canada seeks to diversify its trade beyond the United States and double non‑U.S. exports, while the Philippines looks to attract sustainable investment ahead of President Marcos’ chairmanship of the ASEAN summit in November.