Philippines and Chile discussed the opening of negotiations for their Comprehensive Economic Partnership Agreement (CEPA), which could the first free trade agreement of the Philippines with a Latin American country.
Trade and Industry Secretary Cristina A. Roque met and discussed the opening of negotiations on the CEPA with Chile Vice Minister of Trade Claudia Sanhueza at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, South Korea on May 15, 2025.
The discussion on the opening of talks for the CEPA came six months after both countries launched the negotiations in December last year.
Roque expressed optimism for the CEPA’s potential to strengthen trade in goods and services while integrating modern elements such as digital trade, labor, and sustainability.
Once concluded, the CEPA this could be the Philippines’ first free trade agreement with a Latin American country.
The negotiation of the CEPA was launched during the visit of Chile’s Minister of Foreign Affairs, Alberto van Klaveren in Manila on December 6, 2024.
The CEPA aims to go beyond trade in goods and services by including key areas such as intellectual property rights, digital economy, MSMEs, environment, labor, and trade and gender, among others.
Emphasizing the potential of the agreement, Secretary Roque stated, “Beyond trade, the CEPA should also be driven by a commitment to sustainability, inclusivity, and economic resilience. By addressing new-generation trade issues, the agreement aligns with the Philippines’ goals of inclusivity and resilience.”
The CEPA with Chile presents significant benefits for the Philippines, including enhanced market access for key exports, increased consumer welfare with lower prices of goods, and facilitative rules of trade. Strengthened economic ties with the Latin American region is also expected.
This joint initiative reflects the shared vision of the Philippines and Chile to expand economic opportunities and deepen their partnership on the global stage. Through the CEPA, both nations look forward to fostering a more robust and mutually beneficial relationship.
