The Philippines and Chile are working toward the signing of a free trade agreement (FTA) by the end of 2025, the Department of Foreign Affairs (DFA) announced on Saturday.
The update followed a meeting between President Ferdinand “Bongbong” Marcos Jr. and Chilean President Gabriel Boric held on the sidelines of the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting at the Hwabaek International Convention Center in Gyeongju, South Korea.
In its statement, the DFA said President Marcos underscored the importance of completing the Philippines–Chile Comprehensive Economic Partnership Agreement, which would mark the Philippines’ first-ever free trade deal with a Latin American nation.
“Both leaders agreed to facilitating the signing of the agreement by end of this year. Manila hosted the third round of negotiations for the agreement in October,” the DFA said.
Marcos and Boric also discussed ways to strengthen cooperation between their two countries despite their geographic distance, pointing to shared cultural and historical ties as the basis for closer collaboration in trade, investment, and people-to-people exchanges.
The Philippine leader likewise expressed support for President Boric’s call for greater multilateralism, emphasizing the value of APEC and the Association of Southeast Asian Nations (ASEAN) in promoting peace and addressing global challenges.
The meeting between the two leaders also comes as both nations prepare to celebrate the 80th anniversary of Philippines–Chile diplomatic relations in 2026, marking eight decades of friendship and cooperation across the Pacific.