Canadian business calls for trade pact between Philippines, Canada

  • Page Views 3066
  • Canadian chamber president Julian H. Payne said that as the FTA is crucial to ensure the country’s position as a globally competitive, highly lucrative investment destination, they are pushing for the realization of the proposed agreement.

    “We are now in the process of gathering our members every meeting to discuss the background and inputstrade-pact regarding the FTA. Primarily our concern is how we can come up with a specific scope of the agreement so we will have clearer vision and direction towards this thrust,” he said.

    The FTA was first eyed when former Canadian Prime Minister Stephen Harper announced the launching of the possibility of exploring the FTA after the three-day state visit to Canada of President Benigno Aquino III last May 7-9.

    “The exploratory discussion of the proposed FTA is still yet to start depending if the incumbent Canadian Prime Minister Justin Trudeau will still consider idea,” Payne said adding that Trudeau took the position by last quarter of this year. But Payne is positive that the agreement will go ahead as Canada always welcome trade agreements.

    “I anticipate that this will go ahead but we must put it into account that both governments should remain to be interested with the proposed FTA especially now that Philippines will also have upcoming regular presidential elections, it really depends,” he said.

    If the Philippines-Canada FTA will push through, it will be considered as a unique trade agreement between the both governments.

    “There will be no overlapping, Philippines is a member of the Association of Southeast Asian Nations (Asean) while Canada is a member of the North American Free Trade Agreement (Nafta), if  the FTA will be realized it will open windows for both countries to other bigger markets,” Payne said.

    The comprehensive FTA, once approved, will be the Canada’s first trade agreement with a country from the Southeast Asia.

    At present Ayala land and Banco De Oro (BDO) have presence of business in Canada which could be considered as signs of growing partnership between the two trade-oriented countries.

    Official Canadian data showed that bilateral trade grew by an annual 2.5 percent to C$1.8 billion in 2014. Canadian merchandise imports from the Philippines came in at around C$1.24 billion, while a total of C$569.5 million is recorded for Canadian exports to the Philippines.

    The Philippines has FTAs with China, Japan, New Zealand, South Korea, Australia and other Asian countries under the Brunei Darussalam,Indonesia, Malaysia, Philippines-East Asean Growth Area.

    Share

    Leave a Reply

    New Posts Recently publish post More

    • 21 April 2018
      22 hours ago No comment

      Captain Barbell, Darna, Lastikman in new mobile game

      ABS-CBN, in partnership with Xeleb Technologies, launches its newest mobile game, “Pinoy Komiks Heroes Battle,” featuring the most iconic superheroes from Mars Ravelo’s comics series­—Captain Barbell, Darna, and Lastikman. “Pinoy Komiks Heroes Battle” is a challenging puzzle game wherein players have to complete level goals within a limited number ...

    • 21 April 2018
      24 hours ago No comment

      Kristine Hermosa back to doing teleseryes

      It has been eight years since Kristine Hermosa graced primetime television. Since marrying Oyo Sotto, she has taken a backseat from showbiz and has been focusing on their growing family. Now, Kristine is back on ABS-CBN’s fantasy series “Bagani.” “You know naman na my heart talaga is sa family ...

    • 21 April 2018
      1 day ago No comment

      Coleen’s mom admits Billy Crawford is already like a son to her

      BiCol were married on April 20. After planning her daughter’s Despedida de Soltera last April 14, Coleen Garcia’s mom Maripaz Magsaysay admitted she couldn’t help but get teary-eyed when Billy Crawford’s parents made an entrance after arriving from the US the night before. “I got really emotional kanina dun sa mommy ni Billy. Kasi ...

    • 20 April 2018
      2 days ago No comment

      The Best Lechon Manok Ever

      In the 1980s, when the lechon manok fad took hold of the Philippines, it was just impossible for any Pinoy to leave his home and arrive at his destination without seeing at least two competing lechon manok kiosks. It was during this time that Dolores and Dwight Salcedo were ...

    • 20 April 2018
      2 days ago No comment

      Michael V meets ‘Avengers’ stars , gives them 15-minute portraits

      Michael V not only had the rare chance to personally meet the stars of Avengers: Infinity War but he also had the opportunity to give their sketches that he did for them. The GMA-7 actor-TV host recently went to Singapore to interview the stars of the Marvel superhero film. Perhaps not ...

    %d bloggers like this: