Ottawa – During the Team Canada Trade Mission to the Philippines, which was led by Mary Ng, Minister of Export Promotion, International Trade and Economic Development, Canadian companies announced several key initiatives and partnerships that will help advance trade and investment and create well-paying middle-class jobs for Canadians.
Opportunities for Canadian businesses in the Philippines
Air Canada flights from Vancouver, British Columbia, to Manila, Philippines
Description: Air Canada announced on December 5, 2024, the launch of direct non-stop flights between Vancouver and Manila 4 times a week, commencing in April 2025 flagship 787 dash 9 dreamliner aircraft. . By encouraging increased travel and cultural exchange, these flights will strengthen people-to-people ties between the 2 countries, promote economic development and enhance shared prosperity.
New Export Development Canada office in Manila
Description: This new Export Development Canada office will help Canadian businesses interested in tapping into the Philippines, one of the Indo-Pacific region’s fastest-growing markets, by providing them with in-market expertise, financing solutions and connections with key local partners. Canada is the only G7 country that has its ECA represented in the Philippines.
Exploratory discussions on a bilateral free trade agreement with the Philippines
Description: A Canada-Philippines free trade agreement (FTA) could allow for further elimination of barriers to bilateral trade and investment while further supporting an open, fair, inclusive and rules-based trading system. Exploratory discussions are a necessary first step in Canada’s FTA process that help identify whether there is sufficient interest and benefit to pursuing negotiations with a trading partner.
Building Canada-Philippines partnerships and innovation
Nuclear Energy Administrative Arrangement between Canada and the Philippines
Description: This administrative arrangement will facilitate the effective fulfillment of the obligations under the 1983 Canada-Philippines Nuclear Cooperation Agreement. The arrangement will help facilitate trade between the 2 countries in the nuclear energy sector.
Kickstart Ventures, Inc., and Lydia AI
Description: Lydia AI, an artificial intelligence (AI) company based in Toronto, Ontario, received a strategic investment from Kickstart Ventures, Inc., the largest venture capital firm in the Philippines. This partnership aims to address the gap in life and health insurance in Asia, particularly Southeast Asia, where aging populations and the rise of chronic illnesses are driving an urgent need for more inclusive and accessible insurance. This underscores Lydia AI’s commitment to transforming insurance accessibility by leveraging its AI-powered risk-scoring engine to digitize underwriting processes and embed personalized financial protection in everyday digital platforms.
OpenText Philippine Innovation Centre opening
Description: On December 6, 2024, OpenText launched a global innovation centre in the Philippines, its first in theworld. OpenText is a Canadian company headquartered in Waterloo that has a large presence, with approximately 1,500 full-time employees in IT operations and cybersecurity in the Philippines. The new centre features a state-of-the-art global response centre, that will provide 24/7 threat detection and response across OpenText’s global network. The facility has the capability to monitor and assess over 300 billion threats per months, leveraging OpenText’s security tools and new advance AI technology.
Ostrom Climate Solutions Inc. Philippines office opening
Description: Ostrom Climate Solutions Inc. opened an office in the Philippines to serve as its operations hub for Southeast Asia. In June, Ostrom Climate had unveiled its new business strategy of focusing on developing high-quality carbon projects, starting with a partnership with the Philippines’ National Irrigation Administration for its flagship project to reduce methane emissions in the rice supply chain and a cooperation agreement with Klima 1.5 Corp (the Ayala Corporation’s sustainability arm) to undertake a feasibility study and conceptual plan for carbon projects in the Philippines.
Contract signing between FreeBalance Inc. and the Philippines’ Department of Budget and Management
Description: This contract will allow FreeBalance Inc., a financial management software company based in Ottawa, Ontario, to provide its financial management platform and services to the Philippines’ Department of Budget and Management for the implementation of the department’s Budget and Treasury Management System (BTMS) project. The BTMS project aims to help the Philippine government improve the transparency and accountability of its public expenditure management system.
Letter of Understanding (LOU) between the Canadian Commercial Corporation (CCC) and Canadian Nuclear Laboratories (CNL)
Description: The CCC, Canada’s government-to-government contracting agency, and CNL, Canada’s premier nuclear science and technology laboratory signed an LOU to cooperate on nuclear export opportunities and to strengthen Canada’s nuclear partnerships in the Indo-Pacific and other priority markets globally. CCC and CNL will leverage their respective strengths to support the continued growth, safety, and global competitiveness of the Canadian nuclear industry and position Canadian companies for contract wins with buying governments.
B2Gold Office Opening
B2Gold Philippines Exploration Corp Exploration opened its office in Makati, Philippines, in June 2024. The company has been seeking new mining companies, in various parts of the country, since its incorporation in August 2023.