Philippines, Chile conclude first Latin America trade deal
MANILA — The Philippines and Chile have concluded negotiations for a Comprehensive Economic Partnership Agreement, marking the Philippines’ first free trade agreement with a Latin American country.
The Philippines–Chile Comprehensive Economic Partnership Agreement, or PH–CL CEPA, is expected to widen market access, support strategic industries, and diversify the country’s trade relationships beyond its traditional partners.
The agreement could benefit Filipino businesses, workers, farmers, consumers, and investors by reducing trade barriers and creating new opportunities in goods, services, investments, technology, and regional supply chains.
Its conclusion comes as the Philippines and Chile celebrate the 80th anniversary of diplomatic relations in 2026.
The milestone reflects the two countries’ deepening partnership and shared commitment to expanding economic cooperation.
Trade and Industry Secretary Cristina A. Roque welcomed the conclusion of negotiations during a meeting with Chilean Foreign Affairs Minister Francisco Pérez Mackenna.
Roque said the agreement reflects the Marcos Jr. administration’s commitment to expanding the Philippines’ network of high-quality trade agreements.
She said the CEPA advances the country’s trade agenda while creating greater opportunities for Filipino businesses, workers, farmers, consumers, and investors.
The PH–CL CEPA goes beyond traditional tariff liberalization by establishing a broader framework for cooperation in trade, investment, and the digital economy.
The agreement also incorporates commitments to sustainability, inclusivity, and economic resilience.
These commitments are reflected in chapters covering the environment, labor, global value chains, and trade and gender.
The agreement builds on the complementary nature of the Philippine and Chilean economies.
The Philippines exports electronic products, coconut products, and personal care products to Chile.
The country imports copper ores and concentrates, salmon, and other key products from Chile.
A reliable copper supply is particularly important to the Philippines’ semiconductor, electronics, renewable energy, and advanced manufacturing industries.
Copper is a critical industrial input used in electrical systems, electronic components, renewable energy infrastructure, and manufacturing equipment.
Improved trade cooperation with Chile could help Philippine industries secure essential raw materials while opening additional demand for locally produced goods.
The agreement is also expected to create opportunities for collaboration across value chains, technology exchange, investments, and the adoption of sustainable business practices.
The conclusion of negotiations comes as bilateral trade between the two countries continues to grow.
As of 2025, Chile was the Philippines’ 51st-largest trading partner.
Chile was also the country’s 49th-largest export market and 48th-largest source of imports.
The CEPA must undergo the necessary domestic procedures before it can be signed, ratified, and implemented by both countries.
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