Philippines-Chile free trade talks moved to July
Originally planned for April, trade talks between Manila and Santiago has been moved three months later. (File photo)
MANILA, Philippines — The first round of negotiations between the Philippines and Chile for a free trade agreement has been moved to July, a high-ranking trade official said on Monday.
Trade Undersecretary Allan Gepty, gave the new timeline, adding that they will conduct a series of virtual discussions to speed up the discussions. Gepty is leading the negotiations for Manila’s side.
“We are still finding a common schedule taking into account the timezone,” Gepty said in a message sent to the Inquirer.
Gepty earlier said that the first round of negotiations was originally planned for April.
The launch of negotiations was announced on Dec. 6 last year. This was done jointly by Trade Secretary Ma. Cristina Roque and Chilean Foreign Affairs Minister Alberto van Klaveren.
Beyond goods and services
Roque’s office had said that the FTA aims to go beyond trade in goods and services. It would cover key areas such as intellectual property rights; digital economy; micro, small and medium enterprises (MSME); the environment, and labor, among others.
The proposed agreement offers significant benefits for the Philippines, including improved market access for key exports, greater consumer welfare through lower prices, and streamlined trade rules.
READ: Aquino, Chile president eye free trade agreement
Two-way trade in goods between the Philippines and Chile reached $141.24 million in 2023. This is according to data from the Department of Trade and Industry (DTI).
Exports to Chile totaled $37.84 million. Imports from the South American nation amounted to $103.41 million.
In previous years, trade values were $110.78 million in 2022, $84.39 million in 2021, $61.33 million in 2020, and $99.23 million in 2019.
Key export products from the Philippines to Chile include fish and coconut products, according to the DTI.
On the other hand, major imports from Chile to the Philippines consist of copper ores and concentrates, among others.
