THE PHILIPPINES and Peru will establish a joint trade commission (JTC) to explore ways to boost bilateral trade, the Department of Trade and Industry (DTI) said.
In a statement over the weekend, the DTI said: “The JTC will serve as a formal platform for dialogue and cooperation aimed at expanding bilateral trade, diversifying trade, and exploring new areas of partnership.”
Trade Secretary Cristina A. Roque and Peruvian Minister for Foreign Trade and Tourism Teresa Stella Mera Gómez announced the creation of a JTC on the sidelines of the 32nd APEC Summit in South Korea on Nov. 1.
In a separate statement, the Philippines and Chile reaffirmed their commitment to advance the Philippines–Chile Comprehensive Economic Partnership Agreement (CEPA) negotiations.
“Both sides expressed determination to finalize the trade deal at the soonest possible time and to forge stronger regional collaboration as the Philippines pursues accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Chile’s interest in joining the Regional Comprehensive Economic Partnership (RCEP),” DTI said.
Trade Undersecretary Allan B. Gepty and Chilean Vice Minister of Trade Claudia Sanhueza met on the sidelines of APEC Leaders’ Week to reaffirm their commitments to advance CEPA negotiations.
Chile is the Philippines’ 37th largest trading partner. Total trade between the two countries rose 137% to $334.13 million in 2024. — Beatriz Marie D. Cruz