Canadian business calls for trade pact between Philippines, Canada

  • Page Views 2532
  • 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

    • 28 March 2017
      42 mins ago No comment

      Angel, John Lloyd to join Kathryn, Daniel in ‘La Luna Sangre’

      Angel Locsin and John Lloyd Cruz will be part of ABS-CBN’s much-awaited television series “La Luna Sangre,” which also features young stars Daniel Padilla and Kathryn Bernardo. Locsin herself confirmed the news on Monday after she announcing in an interview with ABS-CBN News reporter MJ Felipe that she can ...

    • 28 March 2017
      4 hours ago No comment

      Emotional Gerald finishes 42K run in LA Marathon

      Gerald Anderson turned emotional as he crossed the finish line of the Los Angeles Marathon in Santa Monica, California on Monday (Manila time).   Anderson was the Philippines’ representative to the 42-kilometer run organized by Skechers, a brand which the actor endorses. In a series of posts on Instagram, ...

    • 27 March 2017
      15 hours ago No comment

      Canada funds four new maternity clinics in the Philippines

      Canada is funding four new maternity plus clinics in the Philippines to reduce deaths during child birth.   The initiative is funded under the “Innovations in Reducing Maternal Mortality in the Philippines” project.   The project has the financial support of Global Affairs Canada (GAC) and the Canadian non-profit ...

    • 27 March 2017
      17 hours ago No comment

      Filipino photographer arrested by Toronto police for alleged sexual assault

      The Toronto Police Service announced on March 16, 2017 that it wants to make the public aware of an arrest in an ongoing sexual assault investigation. The Toronto police alleged that at on March 11 this year, a 28-year-old woman went to have passport photographs taken by a man ...

    • 27 March 2017
      22 hours ago No comment

      Beauty Gonzalez shares love advice for friend Ellen

      “Pray for it.” That is the best love advice Beauty Gonzalez could give her good friend, Ellen Adarna, who recently broke up with the youngest son of the President, Sebastian “Baste” Duterte. Gonzalez also believes the right man will come along for Adarna. “Prayers lang ‘yan. Totoo. Good things ...

    %d bloggers like this: