Minister of International Trade Ed Fast met with his counterpart in the Philippines, Gregory L. Domingo, Secretary of Trade and Industry met to discuss the potential for enhanced bilateral trade and investment relations, and ways to build on our current commercial relationship, which is already supported by existing agreements, such as a double taxation agreement, an investment promotion and protection agreement, and a recently expanded air transportation agreement.
“It is important to identify and foster growth in areas of common interest, such as agri-food, transport, energy, infrastructure, education, defence and security, and for the two governments to make commitments to resolve a number of market access issues in a timely fashion, “ said Senator Enverga in a statement.
Minister Fast will lead a trade mission to the Philippines in May with a Canadian business delegation and Secretary Domingo, accompanied by a number of Philippine company representatives, may visit Canada at a later stage this year.
The Philippines holds the Chair of the Asia-Pacific Economic Cooperation (APEC) for 2015 and shares Canada’s commitment to fostering the participation of small and medium-sized enterprises (SMEs) in the global economy. Also, the Philippines is designated as a priority emerging market under the Global Markets Action Plan (GMAP) of Canada, which is a positive step towards a progressive bilateral relationship.