The Philippines is looking to begin negotiations for a preferential trade agreement (PTA) with India next year, even as its Department of Trade and Industry (DTI) works to conclude parallel trade negotiations with the European Union and Canada.

"I hope we can start negotiations next year," Trade Undersecretary Allan B. Gepty told reporters on the sidelines of a briefing last week.

He said the proposed PTA would focus on improving market access for goods trade between the Philippines and India. "When it comes to preferential trade agreements, usually the coverage is limited to goods," he said.

A start next year would build on groundwork already in place: Indian Ambassador to the Philippines Harsh Kumar Jain said in July that the two countries have agreed on the terms of reference for the PTA negotiations, the framework that defines the scope of formal talks.

India was the Philippines' 15th-largest trading partner as of the end of July, with total trade valued at $320.70 million during the period — the baseline the proposed goods-focused pact would aim to build on through improved market access.

Trade Secretary Maria Cristina A. Roque has said the department is working to conclude five free trade agreements (FTAs) this year. The DTI is seeking to wrap up its bilateral FTA negotiations with Canada and the European Union within the year, as well as the updated Japan-Philippines Economic Partnership Agreement. The India PTA would add a further negotiating track to that slate.

The Philippines signed a free trade deal with the United Arab Emirates in January and concluded FTA negotiations with Chile in July.

Separately, the Philippines and Canada finished the fourth round of FTA talks in Toronto on Sept. 8-11.

"We have achieved substantive and positive progress and we are on track in concluding the FTA negotiations within the year," Mr. Gepty said.

He added that there is no need to hold another full round of talks for the Canada FTA, as any additional inputs will be discussed in smaller settings. "We're just left with very few remaining issues that we will address maybe virtually and through small meetings."

During the latest round of talks for the Philippine-Canada FTA, the DTI reported progress in the text-based and market access discussions. How those few remaining issues are resolved, and whether formal talks with India open on the timeline Mr. Gepty outlined, will mark the next steps for the country's broader trade negotiating agenda. — Beatriz Marie D. Cruz