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First Philippine free trade agreement with a Latin American country
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Marks 80 years of diplomatic relations between the Philippines and Chile
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Expands cooperation in trade, investment, sustainability, and digital economy
The Philippines and Chile have successfully concluded negotiations for the Philippines–Chile Comprehensive Economic Partnership Agreement (PH–CL CEPA), marking a historic milestone as the Philippines’ first free trade agreement (FTA) with a Latin American country.
The conclusion of negotiations comes at a meaningful time as the Philippines and Chile celebrate the 80th anniversary of diplomatic relations this year, underscoring the deepening partnership between the two nations and their shared commitment to expanding economic cooperation.
Trade and Industry secretary Ma. Cristina Roque welcomed the agreement during her meeting with Chile’s Minister of Foreign Affairs, Francisco Pérez Mackenna. She emphasized that the CEPA reflects the Marcos Jr. Administration’s commitment to expanding the Philippines’ network of high-quality trade agreements, advancing the country’s trade agenda while creating greater opportunities for Filipino businesses, workers, farmers, consumers, and investors.
The PH–Chile CEPA is a comprehensive and modern agreement that goes beyond traditional tariff liberalization. It establishes a framework for deeper cooperation in trade, investment, and the digital economy, while incorporating commitments to sustainability, inclusivity, and resilience through chapters on Environment, Labor, Global Value Chains, and Trade and Gender.
The agreement builds on the complementary nature of the two economies. The Philippines exports electronic products, coconut products, and personal care goods to Chile, while importing copper ores, salmon, and other key products. The reliable supply of copper is particularly vital for the Philippines’ semiconductor, electronics, renewable energy, and advanced manufacturing industries. By leveraging these strengths, the CEPA opens new opportunities for collaboration across value chains, technology exchange, investments, and sustainable practices.
The conclusion of the CEPA comes as bilateral trade continues to grow. As of 2025, Chile ranked as the Philippines’ 51st trading partner, 49th export market, and 48th import source. Philippine imports from Chile more than doubled, rising from USD 103.4 million in 2023 to USD 290.8 million in 2024, reflecting expanding commercial ties and growing economic complementarities.
