Chile and the Philippines announce the start of negotiations for a Comprehensive Economic Partnership Agreement

During his visit to the Philippines, Foreign Affairs Minister Alberto van Klaveren and the Philippine Secretary of Trade and Industry, Cristina A. Roque, announced the start of negotiations for a Comprehensive Economic Partnership Agreement (CEPA).

These negotiations will provide a stronger basis for the expansion and intensification of bilateral economic ties and technical cooperation in areas of mutual interest.

For Minister van Klaveren, “the strengthening of this trade relationship through a comprehensive economic agreement offers great opportunities for both countries because of the complementarity of their economies, including the possibility of addressing tariff and non-tariff barriers to increase trade and investment”.

He added that this agreement “would allow not only to expand access to new markets, but also to increase the diversification of the export portfolio and strengthen cooperation in key areas such as technology, innovation and services”.

The CEPA will cover the chapters of trade in goods, trade in services and investment, among other areas, allowing Chile to access an important Southeast Asian market of 113 million people, with a great growth dynamism in the region, which is estimated to reach 6.2% by 2024.