Skip to content

Canada’s Economic Ministers on ASEAN-Canada FTA, Philippine-Canada FTA, and other areas of cooperation

12 May (Tuesday) 2026 – MBC, in partnership with the Embassy of Canada to the Philippines, co-organized a special session of the Foreign Leaders Series, featuring Canada’s economic ministers: Honourable Maninder Sidhu, Minister of International Trade, and Honourable Rechie Valdez, Minister for Women and Gender Equality and Secretary of State (Small Business and Tourism).

“Together we are working to conclude negotiations for the ASEAN-Canada Free Trade Agreement this year. And, of course, we are working on a Canada-Philippines Free Trade Agreement, with negotiations proceeding at an excellent pace,” said Minister Sidhu.

In 2025, Canada and the Philippines’ bilateral merchandise trade totalled $3.4 billion, while their two-way trade in services reached $3.2 billion in 2024. Canadian investment in the Philippines in 2025 increased to $1.7 billion, while Philippine investment in Canada was $51 million. 

In his Welcome Remarks, His Excellency David Hartman, Canadian Ambassador to the Philippines, highlighted that this visit will shape the prospects for Canada-Philippine business relations.

“In the Philippines, roughly two-thirds of SMEs are women-owned. In Canada, women entrepreneurs are among the fastest-growing segment of our economy. That is an enormous amount of economic potential looking for room to grow. Part of my job, as Canada’s Minister of Women and Gender Equality, is to make sure that as we are creating new opportunities through new trade agreements, women are fully benefiting and participating,” said Minister Rechie, who is also the first Filipino-Canadian woman to be elected as a Member of Parliament.

The two ministers sat beside Ms. Riza Mantaring, MBC Trustee and former CEO of Sun Life, for a fireside chat. Key topics discussed were trade diversification, tariffs, energy,  critical minerals, Luzon Economic Corridor, women in the business community, and the Filipino diaspora. Other areas where the PH-Canada relationship is being deepened are infrastructure, clean energy, digital innovation, manufacturing, agriculture, SMEs, and women in the C-suite. 

This is the first time that MBC hosted two economic ministers in the same session. Ms. Cosette Canilao, MBC Trustee and CEO of Aboitiz InfraCapital, thanked the Canadian government for entrusting this meaningful engagement to MBC. 

MBC’s Foreign Leaders Series aims to provide a platform for collaboration through high-level dialogue between the business sector and the country’s key diplomatic partners, by promoting trade and investment opportunities, and other areas of mutual interest.