THE country has sealed its first free trade agreement (FTA) with a Latin American nation following the conclusion of the Philippines-Chile Comprehensive Economic Partnership Agreement (CEPA).
Trade Secretary Ma. Cristina Roque, who earlier this week said that agricultural issues remained unresolved, on Friday welcomed the end of the FTA negotiations.
The successful completion of the talks was said to demonstrate the Marcos administration’s commitment to advancing Philippine trade and creating greater opportunities for Filipino farmers, workers, consumers, businesses, and investors.
The Department of Trade and Industry (DTI), which announced the conclusion of the talks, said: “The agreement builds on the complementary nature of the two economies.”
“By leveraging these complementary strengths, the CEPA creates new opportunities for collaboration across value chains, technology exchange, investments, and the adoption of sustainable practices,” it added.
The Philippines exports electronic products, coconut products, and personal care products to Chile. It imports copper ores and concentrates, salmon, and other products from Chile.
The DTI said copper was especially important for the Philippines, particularly for its uses in the semiconductor, electronics, renewable energy and advanced manufacturing industries.
It said the conclusion of the FTA negotiations comes at a particularly meaningful time as the Philippines and Chile mark the 80th anniversary of diplomatic relations this year.
Philippine imports from Chile more than doubled to $290.8 million in 2024 from $103.4 million in 2023. Chile was also the Philippines’ 51st biggest trading partner, 49th largest export market, and 48th in the ranking of import sources as of 2025.
