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(Bloomberg) — Canada and the Philippines plan to finalize a free trade agreement this year, and signed agreements to deepen cooperation on energy, defense, labor and migration, Prime Minister Mark Carney said Thursday.
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“In a more dangerous and divided world, economic strength must be reinforced by shared security,” Carney said in Vancouver, standing alongside Philippine President Ferdinand Marcos Jr., who is visiting Canada this week.
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The meeting comes as Marcos seeks to expand defense ties with other nations beyond Manila’s long-time ally Washington, while Carney is aiming to increase non-US trade. The trip marks the first official visit of a Philippine leader to Canada in 11 years.
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The Philippines and Canada signed a visiting forces agreement last year, as the Southeast Asian nation looks for partners in countering Beijing’s expansive claims in the South China Sea.
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Canada is on track to finalize talks on a free trade deal this year with the Philippines, which is home to around 113 million people, Carney said, adding that his government is also working to conclude a trade pact with the Association of Southeast Asian Nations, or ASEAN.
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Bilateral merchandise trade between the two countries reached C$3.4 billion ($2.4 billion) last year. The trade talks come as part of Carney’s effort to double Canada’s exports to markets outside the US within a decade.
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Carney also appeared to confirm his appearance at the ASEAN leaders summit this fall, saying that he planned to see Marcos again soon in Manila. The Philippines currently holds the rotating chairmanship of the group.
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