Economy

The Philippines and Canada have elevated their bilateral relationship to a Strategic Partnership, signaling a broader push to deepen trade, investment and labor cooperation as both countries target the completion of negotiations for a bilateral free trade agreement (FTA) before the end of the year.

The Department of Trade and Industry (DTI) is stepping up efforts to expand market access for Philippine exporters as merchandise shipments sustained double-digit growth in the first five months of 2026, signaling resilient external demand despite global trade uncertainties.

More than 25 US business executives and investors will visit the Philippines next week to explore opportunities in high-growth industries, signaling sustained American interest in one of Southeast Asia's fastest-growing economies.

Metro Cebu has begun receiving desalinated water from Isla Mactan Cordova Corp. (IMCC), marking a major step in diversifying the region's water supply as rising demand and climate risks put increasing pressure on traditional sources.

The Philippines' elevation to upper-middle-income status by the World Bank is expected to strengthen investor confidence and bolster the country's appeal as an investment destination, marking a new phase of economic development while raising expectations for broader, more inclusive growth.