BUSAN, South Korea — President Ferdinand R. Marcos Jr. and Chilean President Gabriel Boric have agreed to fast-track the signing of the Philippines–Chile Comprehensive Economic Partnership Agreement (CEPA), a landmark free trade deal poised to become the Philippines’ first in Latin America.
The two leaders met on the sidelines of the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting on Saturday, where Marcos emphasized the potential for deeper economic and political engagement between the two nations. He underscored their “shared heritage and cultural affinity” as the groundwork for a stronger partnership bridging Southeast Asia and South America.
The Department of Foreign Affairs said both sides are working to finalize the CEPA’s signing before the end of the year. The Philippines hosted the third round of negotiations for the deal in October, advancing discussions on trade in goods, services, and investments.
Marcos also expressed support for Boric’s call to strengthen multilateral cooperation, pointing to APEC and ASEAN as vital platforms for promoting stability, inclusion, and sustainable growth amid global tensions.
The meeting sets the stage for a milestone in bilateral relations as the Philippines and Chile gear up to mark 80 years of diplomatic ties in 2026 — a celebration that could also usher in a new era of cross-Pacific economic partnership.