The Philippines wrapped up the 2nd Joint Economic Committee (JEC) meeting with Chile on Nov. 8, 2024, another significant step towards strengthening bilateral economic relations.
Trade Undersecretary Allan Gepty highlighted key developments from the discussions, emphasizing the potential for a Comprehensive Economic Partnership Agreement (PH-CL CEPA).
“Strengthening collaboration in innovation, R&D and education, along with fostering deeper people-to-people ties, can open new avenues for trade and investment. We believe these sectors offer immense opportunities to drive growth for both economies,” he said.
The joint study on the feasibility of the agreement explored several areas where both nations can further enhance their economic collaboration, particularly beyond trade in goods.
Notable sectors such as services, innovation, research and development (R&D), and education were identified as areas with significant growth prospects.
The Philippines and Chile, through the existing JEC framework, addressed various trade and investment issues, leading to steady progress in bilateral relations since the inaugural meeting in 2023.
