MANILA – President Ferdinand R. Marcos Jr. said his official visit to Canada generated US$2.5 billion (about P153.4 billion) in investment commitments from Canadian companies, alongside agreements aimed at expanding economic and bilateral cooperation between the two countries.

Speaking during a media briefing upon his return to the Philippines, Marcos said he met with Canadian firms to strengthen partnerships in mining, critical minerals, energy, and the information technology-business process management (IT-BPM) sector.

“During the high-level roundtable meetings with leading Canadian companies and industry leaders, I underscored the Philippines’ commitment to fostering a competitive, sustainable and innovation-driven economy,” Marcos said.

He said discussions with IT-BPM companies also explored the establishment of global artificial intelligence hubs and learning centers that would serve as centralized AI-driven facilities for workforce upskilling.

“All these business engagements in the sectors of mining, critical minerals, energy, services and IT-BPM resulted in a combined US$2.5 billion in investments from Canadian partners,” Marcos said.

The President also met with executives of major Canadian companies, including B2Gold, OceanaGold, TELUS and NQX, some of which already operate in the Philippines.

“However, we still look forward to the eventual entry of more Canadian companies into the Philippines’ investment landscape,” he said.

Marcos also reaffirmed the Philippines’ commitment to concluding negotiations for the Association of Southeast Asian Nations (ASEAN)-Canada Free Trade Agreement.

“Thus, it is already timely that we are negotiating a free trade agreement with Canada, which we hope will further strengthen our economic cooperation once it enters into force,” he said.

Marcos returned to the Philippines on Sunday afternoon after his official visit to Canada from July 1 to 4. His aircraft arrived at Ninoy Aquino International Airport at around 4 p.m.

During the visit, the Philippines and Canada elevated their bilateral relations to a Strategic Partnership, the highest level of cooperation between the two countries.

Marcos and Canadian Prime Minister Mark Carney also committed to conclude negotiations for a Philippines-Canada Free Trade Agreement within the year, while reaffirming support for the proposed ASEAN-Canada Free Trade Agreement.

The two countries also signed four agreements covering critical minerals and energy, labor and migration, tourism, and people-to-people and cultural exchanges.

The President, First Lady Liza Araneta-Marcos and members of the Philippine delegation also met with the Filipino community in Vancouver during the trip.