Trade Secretary Alfredo Pascual said the Philippines which signed a joint economic cooperation with Chile would benefit from similar agreements with other countries in South and Central America. READ:
Trade Secretary Alfredo Pascual said the Philippines which signed a joint economic cooperation with Chile would benefit from similar agreements with other countries in South and Central America.“I believe we should start looking at the bigger economies like Argentina, Brazil and Chile in South America and Mexico in Central America. Those are the ones that can open their market to us and our market to them,” said Pascual.
The signing of the JEC between the Philippines and Chile is a step towards forging an FTA, Pascual said.He said the JEC with Chile is a significant milestone for both economies as it represents the first trade and investment mechanism of the Philippines to formally engage the South American region. The Philippines substantially concluded the FTA negotiations with South Korea and signed early this year a joint statement with the intent to pursue the Comprehensive Economic Partnership Agreement with the United Arab Emirates.
ASEAN as a bloc is also discussing FTAs with other countries for possible review or upgrade, the DTI said.
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