Correction, November 15, 2026: the headline is corrected. Canada substantially concluded free trade negotiations with ASEAN; only the Philippines agreement was concluded.
MANILA, Philippines - Canada has substantially concluded negotiations toward a free trade agreement with the Association of Southeast Asian Nations (ASEAN) and concluded negotiations for a Canada-Philippines free trade agreement, Prime Minister Mark Carney announced on Saturday, November 14, at the 49th ASEAN Summit in Manila.
Carney travelled to Manila as Guest of the Chair at the summit and held a bilateral visit with Philippine President Ferdinand Marcos Jr. The ASEAN-Canada agreement, known as ACAFTA, would open a market of almost 700 million people with an economy of close to $6 trillion. Once in force, it 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. Canada also announced $5 million in assistance to support swift ratification across ASEAN.
The Canada-Philippines agreement was concluded just one year after the two countries announced their intention to pursue it, and 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, the agreement could increase Canadian exports up to three times by 2035, particularly in agriculture and forest products. Carney also announced $26 million in investments to support closer Canada-Philippines ties in nuclear security and safety, climate-resilient agriculture, community resilience, and food security and infrastructure, including in the G7-supported Luzon Economic Corridor.
“In a more dangerous and divided world, a dense web of connections holds strong. With the Philippines, we concluded a new free trade agreement in just one year, creating new opportunities for our farmers, ranchers, foresters and miners, and putting us on track to triple our exports by 2035. With ASEAN, we are opening a market of nearly 700 million people through a landmark free trade agreement. Two agreements in one year: that is the speed and ambition this moment demands,” Carney said.
For Surrey, the deals land close to home. Surrey has one of Canada’s largest Filipino communities, and many Surrey families have relatives, businesses and remittance ties in the Philippines. British Columbia agriculture and forest products, two sectors the agreements are built to serve, are major employers across the Fraser Valley, and the Port of Vancouver and Surrey’s logistics and warehousing employers stand to gain from more two-way trade with Southeast Asia. As a group, ASEAN was already Canada’s fifth-largest merchandise trading partner in 2025, with annual two-way trade valued at $52.5 billion, up 22.7 percent from 2024. Two-way merchandise trade with the Philippines totalled $3.4 billion in 2025, up 7.4 percent from 2024.
The Manila announcements also covered defence and security cooperation, including closer cooperation between the Armed Forces, a new cyber security dialogue, and steps toward agreements on customs cooperation and the protection of sensitive information. Canada will extend its Dark Vessel Detection program until 2033 to continue combatting illegal, unreported and unregulated fishing. New commercial agreements announced in Manila include a memorandum of understanding between the Ocean Supercluster, the Makati Business Club and the University of the Philippines Visayas on ocean technologies; one between Draganfly Inc. and Razon Group on drone technology for maritime and port operations; and one between JCM Power and the Aurora Pacific Economic Zone Authority on renewable energy.
“Trade diversification is our Plan A, and we are delivering new agreements that give our businesses unprecedented access to new markets. We have substantially concluded free trade negotiations with ASEAN and concluded negotiations with the Philippines, expanding opportunities for Canadian businesses across one of the world’s fastest-growing regions, home to nearly 700 million consumers and a combined economy of close to $6 trillion,” said Maninder Sidhu, Minister of International Trade.
Negotiations toward the ASEAN agreement began in 2021. Carney will continue his trip in Cambodia and China.
Source: Prime Minister of Canada, November 14, 2026
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