Canada is racing to close two Asian free trade deals in 2026 - one with the Philippines and one with the broader ASEAN bloc - to reduce reliance on the US.

cross-posted from: https://scribe.disroot.org/post/8961900

Archived link

Canada is going after two free trade deals in Asia in 2026. The first is a one-on-one deal with the Philippines. The second is a wider pact with ASEAN.

ASEAN is the 11-country bloc that covers most of Southeast Asia [Brrunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste, Vietnam, with Papua New Guinea having an observer status] and a population of almost 700 million people.

…

For Canada, the math is simple. ASEAN has nearly 700 million people. Its economy is over $5 trillion. It is on track to be the world’s fourth-biggest by 2030. A done Canada-ASEAN deal would add over $1.5 billion to Canada’s GDP.

…

Critical Minerals Are In The Mix

The Philippines side has a second angle. The country is the world’s second-biggest seller of raw nickel. Canada wants its capital chasing local mining and processing.

A separate critical minerals deal is also on the table. It would mirror a memo Manila signed with the US on supply lines for clean energy gear.

The Canada-ASEAN team closed two chapters last September. They cover rules and customs steps. The harder chapters are still open.

…