The Philippines and Chile aim to conclude negotiations on their first Comprehensive Economic Partnership Agreement (CEPA) by the end of the year, a trade official said Wednesday.
Trade Undersecretary Allan Gepty said the Philippines is “on track” to finalize the CEPA, with the next round of negotiations scheduled for the first week of October in Manila.
“This will be a big milestone for the Philippines as this will be our first Comprehensive Economic Partnership Agreement with a Latin American country,” Gepty said.
He said the agreement would expand the Philippines’ free trade agreement (FTA) network and support the diversification of markets, creating new opportunities for businesses and investors.
The CEPA covers a wide range of areas beyond traditional trade in goods, including intellectual property, competition, services, investment, financial services, digital trade, customs procedures and trade facilitation.
“This is a comprehensive agreement. We’re aiming for high-level commitments, especially on digital trade, where rules and disciplines are still evolving,” Gepty said.
He said intellectual property is one of the Philippines’ “offensive interests,” citing the country’s strength in IP rights and its desire to ensure protection and enforcement in partner jurisdictions.
Competition policy is also a critical component, Gepty said, stressing the need to maintain a level playing field and promote fair trade practices.
Gepty noted the Philippines’ push for greater market access in services, including opportunities for Filipino engineers, accountants, and technical professionals, as well as encouraging Chilean firms to invest in the country.
Earlier negotiations revealed strong trade complementarities between the two countries. The Philippines primarily exports processed food and personal care products, such as deodorants, to Chile, while Chile’s top export interests include wines, salmon, pork, and cherries.
“Chile is strong in mining and food exports. Their technology and know-how could help us in processing, branding, and product development for our agricultural products,” he said.
Gepty said the Philippines could become Chile’s 36th FTA partner.
