Chile is seeking a free trade agreement (FTA) with the Philippines, Filipino Trade and Industry Secretary Gregory Domingo has said.

Domingo told reporters that officials from the two countries are scheduled to meet in the Philippines in March to carry out "informal talks" regarding an FTA. If those talks are positive they will be followed up with further negotiations in Chile around the middle of this year.

Chile currently has 24 FTAs in place with 62 economies, representing 63.3 percent of the world population and 85.3 percent of global gross domestic product (GDP). Most recently a new FTA for Chile with Hong Kong became effective from November 29.

The Philippines has FTAs with Japan and, as an ASEAN member, with China, South Korea, India, Japan, Australia, and New Zealand. The country is due to begin negotiations on an FTA with the European Free Trade Association (EFTA) in March.

Source: Tax News

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