Done deal: Asean, Canada end talks for FTA

MANILA, Philippines — The Association of Southeast Asian Nations (Asean) and Canada have concluded their years-long negotiation for a free trade agreement (FTA), Executive Secretary Ralph Recto announced Saturday. 

Negotiations for the FTA began in 2021 and aimed to boost trade between the 11-member bloc and Canada, which reached $23.4 billion in 2024.

“We have concluded the negotiations for the ASEAN-Canada free trade agreement, opening the way to wider markets for our products and services,” Recto said at the ASEAN Business and Investment Summit. 

“The value of these agreements will be seen in the enterprises that reach new customers, the investments they attract and the jobs they create. So prepare now,” he added. 

In securing the deal, Canada becomes the first North American country to be a free trade partner of Asean. 

During Canadian Prime Minister Mark Carney’s visit to the Philippines for the Asean Summit, leaders finalized the agreement. Beyond the bloc-to-country deal, Canada is also keen to finalize bilateral trade pacts with Southeast Asian countries, including the Philippines. /pai