Canada Commits $2M to Indo-Pacific Economic Hub with U.S., Japan, Philippines
Canada is investing $2 million in an economic hub in the Philippines backed by the United States and Japan, its trade minister said on Tuesday.
Canadian trade minister Maninder Sidhu said in an interview during his visit to Manila that the investment will be for a future project aligned with the Luzon Economic Corridor.
The corridor is a key manufacturing hub on the Philippines’ largest island, where Japan and the United States have already committed to ramp up infrastructure investments under a trilateral framework agreement.
Canada’s participation comes a day after the United States, Japan and the Philippines announced the expansion of the corridor to include seven new partner countries such as South Korea, Australia, the United Kingdom and France.
Sidhu said he spoke with Philippine officials and explored possible investments in data centers, nuclear energy and logistics.
Canada and the Philippines are in the middle of negotiations for a free trade agreement. Sidhu said they can conclude talks “in the coming months.”
(Reporting by Mikhail Flores; Editing by David Stanway)
This article was first reported by Reuters
