Gyeongju, South Korea—The Philippines and Peru have agreed to establish a Joint Trade Commission (JTC) to further strengthen trade and economic cooperation, a move seen to open new opportunities between Southeast Asia and Latin America. The announcement was jointly made by Philippine Trade Secretary Cristina A. Roque and Peruvian Minister for Foreign Trade and Tourism Teresa Stella Mera Gómez on the sidelines of the APEC Summit last 1 November 2025.
The JTC will serve as a formal platform for dialogue and cooperation aimed at expanding bilateral trade, diversifying trade, and exploring new areas of partnership.
In 2024, bilateral trade between the Philippines and Peru reached USD 280.31 million, a 191% increase from the previous year, indicating strong momentum and promising potential for further growth under the JTC.
