Canada has formally joined the Luzon Economic Corridor (LEC) with an initial investment pledge of CA$2 million, as President Marcos on Sunday, July 5 (Manila time), declared his official visit a success that opened a "new chapter" in Philippines-Canada relations.

Speaking before the Philippine media delegation prior to his departure, Marcos said Canadian Prime Minister Mark Carney committed to supporting infrastructure, supply chain, and clean energy projects under the LEC initiative.

"On this last point, I thank Prime Minister Carney for the decision to participate in the Luzon Economic Corridor with an initial investment pledge of two million Canadian dollars to support infrastructure, the supply chain, and clean energy projects within the LEC," the President said.

The Luzon Economic Corridor, launched by the Philippines together with the United States and Japan in 2024, seeks to accelerate investments in high-impact infrastructure and connectivity projects in Subic, Clark, Manila, and Batangas.

In addition to Canada, seven other countries were earlier announced to have joined the LEC: Australia, Denmark, France, Italy, South Korea, Sweden, and the United Kingdom.

The President said meetings with Canadian business leaders yielded around $2.5 billion worth of investments in mining, critical minerals, energy, services, and the information technology-business process management (IT-BPM) sector.

Among the companies Marcos met during the visit were mining firms B2Gold Corporation and OceanaGold Corporation, telecommunications giant Telus Corporation, and NQX.

Marcos said discussions with Canadian firms focused on mining, critical minerals, energy, artificial intelligence, and digital economy initiatives aimed at supporting the country's long-term industrial transformation and economic resilience.

The President added that Canadian companies are increasingly viewing the Philippines as a trusted investment destination and a reliable partner for businesses seeking to expand in the Indo-Pacific region.

Marcos likewise said Manila and Ottawa remain committed to concluding negotiations for a Philippines-Canada Free Trade Agreement within the year.

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

The President also reaffirmed the Philippines' commitment to concluding the negotiations for the broader ASEAN-Canada Free Trade Agreement during the country's chairmanship of the regional bloc this year.

Canadian Prime Minister Mark Carney earlier said both countries were making "good progress" in negotiations for a bilateral trade deal, which he described as the foundation of the newly established strategic partnership between Manila and Ottawa.

President Marcos described the trip as productive, citing the elevation of bilateral ties to a Strategic Partnership and the signing of agreements covering energy, natural resources, labor and migration, tourism, culture, and the arts.

"I am pleased to report on the productive meetings that we have had with Canada's top government officials and key economic players during our stay here in Vancouver, British Columbia," he said.

"Tunay na naging matagumpay ang ating biyahe kung saan napag-sang-ayunan natin ang ilang mga inisyatibo sa hanay ng gobyerno at ng pribadong sektor (Our trip was truly successful as we were able to agree on several initiatives involving both the government and private sector)," the President added.

Marcos, however, said the work does not end with the conclusion of the visit.

"Patuloy tayong magsisikap upang ang ating nakamit at nasimulan sa Canada ay yayabong at madarama ng mas nakakaraming Pilipino (We will continue working to ensure that what we achieved and started in Canada will flourish and be felt by more Filipinos)," he said.