Chile Becomes First Latin American Country With a Philippines Trade Deal

Trade · Chile

Chile has become the first Latin American country to seal a trade agreement with the Philippines, deepening a two-decade push into Southeast Asia and opening a new front in talks with Bangladesh.

A First for Latin America

No Latin American country had struck a trade agreement with the Philippines until now. Chile’s deal makes it the pioneer, reinforcing a foreign policy built around open markets.

The agreement takes the form of a Comprehensive Economic Partnership, a modern template that covers goods, services and investment. It was sealed during Foreign Minister Francisco Pérez Mackenna’s tour of Southeast Asia.

Chile’s Deep Asian Playbook

With this pact, Chile counts 37 trade agreements, among the densest networks of any economy. The Philippines now sits alongside Thailand, Singapore, Vietnam, Brunei, Malaysia and Indonesia on Chile’s Asian roster.

That reach reflects a decades-long strategy of using trade deals to offset a small domestic market. For Chilean exporters of copper, salmon, fruit and wine, each new agreement is another tariff-lighter doorway into Asia.

Bangladesh Next in Line

The same tour produced momentum with Bangladesh, where Chile agreed to begin free-trade negotiations. Pérez Mackenna also promoted investment agreements with Indonesia.

Bangladesh, one of Asia’s fastest-growing consumer markets, would extend Chile’s footprint into South Asia. The talks signal that Santiago is not slowing its Asian expansion.

The Regional Read-Through

Chile’s move underscores how differently it approaches globalization compared with larger, more protectionist neighbors. While others debate tariffs, Chile keeps signing deals.

For the wider region, it sets a benchmark in market access to Asia. Whether other Latin American economies follow into the Philippines will test how contagious that strategy proves.

Frequently Asked Questions

What did Chile agree with the Philippines?

Chile concluded a Comprehensive Economic Partnership Agreement (CEPA) with the Philippines, becoming the first Latin American country to reach a trade agreement with the Southeast Asian nation.

How many trade agreements does Chile have?

The Philippines deal is Chile’s 37th trade agreement, one of the largest such networks in the world.

Is Chile pursuing other Asian deals?

Yes. Chile agreed to begin free-trade negotiations with Bangladesh and promoted investment agreements with Indonesia during the same Southeast Asia tour.

Sources

• The Clinic
• Cooperativa