Canada’s Trade Minister Maninder Sidhu says negotiations on separate free trade agreements with the Philippines and ASEAN are more than 90 per cent complete, with both deals targeted for completion by November.
Canada’s Trade Minister Maninder Sidhu has said that negotiations on separate free trade agreements with the Philippines and ASEAN are more than 90 per cent complete, with Ottawa pushing to have both deals ready by the time Prime Minister Mark Carney visits Manila in November. Speaking to Reuters on the sidelines of Southeast Asian economic ministers’ meetings in Manila, Sidhu said there was energy from both sides to get a deal done. He described the trade push as part of Canada’s broader strategy to diversify economic ties and strengthen supply chains, adding that Canada’s push to deepen ties with Southeast Asia was not about one particular country and was not primarily driven by shifts in US trade policy.
Sidhu said energy was Canada’s biggest offering to Southeast Asia, pointing to more than five liquefied natural gas projects in various stages of development on Canada’s Pacific coast, all geared towards supplying Asian markets. He said Canada could play a key role in stabilising energy prices and reinforcing supply lines for Southeast Asian economies, many of which have faced higher energy costs and supply concerns as a result of disruptions to shipping through the Strait of Hormuz. Sidhu also said Canada had committed funding to support the Luzon Economic Corridor, a key manufacturing hub on the Philippines’ largest island, and saw opportunities for investment in energy, data centres and related infrastructure as demand for artificial intelligence and digital services increases.
Source: Reuters
