Santiago: President Ferdinand R. Marcos Jr. and Chilean President Gabriel Boric have agreed to accelerate the signing of the Philippines-Chile Comprehensive Economic Partnership Agreement (CEPA), marking the Philippines’ inaugural free trade deal in Latin America. The decision was made during a meeting on the sidelines of the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.
According to Philippines News Agency, President Marcos emphasized the importance of deepening economic and political cooperation with Chile, citing the countries’ shared heritage and cultural connections as a strong basis for enhancing bilateral ties. The Philippines had previously hosted the third round of negotiations for the CEPA in October.
The Department of Foreign Affairs, in a statement released by the Presidential Communications Office, confirmed that both leaders aim to facilitate the signing of the agreement by the end of the year. Additionally, President Marcos expressed support for President Boric’s call for increased multilateralism, underscoring the roles of APEC and the Association of Southeast Asian Nations in mitigating global tensions and fostering collective growth.
This bilateral development comes as the Philippines and Chile look forward to celebrating 80 years of diplomatic relations in 2026.