Canada is using its newly concluded trade agreements with the Philippines and ASEAN to reduce its reliance on the US market and open new export markets.
Trade Minister Maninder Sidhu told reporters in Manila on Sunday that ASEAN's 700 million consumers and $6 trillion economy offer a large market for Canadian exporters. Manila is hosting the 49th ASEAN Summit.
On Saturday, Canada finalized negotiations on a free trade agreement with the Philippines and "substantially concluded" talks on a separate deal with ASEAN. Prime Minister Mark Carney announced both in Manila, where he is attending the summit as a guest of the chair and met Philippine President Ferdinand Marcos Jr.
Sidhu said Canada had never before concluded two such agreements on the same day.
Ottawa says the Philippines agreement covers a market of more than 110 million people and could triple Canadian exports to the Philippines by 2035. The two sides expect to sign it next year. Ottawa's target for the ASEAN agreement is also 2027.
Canada has committed $5 million to help ASEAN member economies prepare for ratification of the regional deal.
Sidhu said Canada is also pursuing trade and investment agreements with India, Saudi Arabia, Türkiye and Qatar. He added that Canada is speaking with trade leaders to identify potential markets for expansion, including the ASEAN region.
Describing Ottawa's approach, Sidhu said the government is "not just throwing a dart at the wall."
