The Philippines and Chile are close to completing negotiations for a bilateral free trade agreement, with talks expected to conclude as early as next month, a senior trade official said.
Department of Trade and Industry Undersecretary for International Trade Policy Allan Gepty said negotiators from both countries are in the final phase of discussions and are ironing out the remaining issues.
“We’re almost there. We hope to conclude the negotiation hopefully by next month,” Gepty told reporters when asked for updates on the proposed Philippines–Chile FTA.
Gepty said only a small number of items remain under discussion but declined to disclose details, noting there are no major issues that could derail the talks.
“I could not disclose [the details], but I would say that there is no major issue that can hinder the conclusion,” he said.
The planned agreement forms part of the Philippine government’s efforts to expand its network of trade deals and diversify export markets.
The administration of President Ferdinand Marcos Jr. has been prioritizing new FTAs to strengthen the country’s competitiveness in global trade.
Department of Trade and Industry Secretary Ma. Cristina Roque earlier said the Philippines is working to finalize trade agreements with several partners including Chile, the European Union and Canada. This is part of a broader strategy to secure around 20 FTAs by 2028.
Negotiations with Chile are expected to be among the first to conclude. Officials previously indicated that the agreement could be signed within the year once talks are finalized.
The proposed FTA is expected to reduce tariffs and other trade barriers between the Philippines and Chile. This could potentially expand market access for Philippine exports such as agricultural products, seafood and manufactured goods while encouraging bilateral investment.
Chile is one of Latin America’s most open economies and has trade agreements with dozens of countries, making it a strategic gateway for Philippine exporters seeking to expand their presence in the region.
