BUSINESS

Traders encouraged to tap Chile market

Juan Manuel Millan, CEO of international business development consultancy Gedeth Network,said Chile offers an attractive market because of its purchasing power despite its relatively small population.

Mico Virata · Oct 25, 2026, 12:56 AM

DTI Secretary Cris Roque and Chilean Foreign Minister Alberto van Klaveren have formalized the Philippines-Chile Comprehensive Economic Partnership Agreement in December 2024. Negotiations have been concluded; talks are finished but the actual signing is pending while adjustments are being made for legal reviews. After the agreement is signed, both governments must ratify and effect approval processes before the CEPA takes effect which is expected in 2027. — Photograph courtesy of DTI Secretary Cristina Aldeguer-Roque/fb

Philippine exporters are being encouraged to explore Chile as a potential destination for their products, with a proposed bilateral trade agreement expected to improve market access and create new opportunities for local businesses in Latin America.

Juan Manuel Millan, chief executive officer of international business development consultancy Gedeth Network, said Chile offers an attractive market because of its purchasing power despite its relatively small population.

Speaking at an international market opportunities briefing organized by the Department of Trade and Industry’s Export Marketing Bureau in Makati City on 16 October, Millan cited Chile’s population of 19.9 million, gross domestic product of $357 billion in 2025 and GDP per capita of $18,000.

Trade between the two countries has room to expand. Chile exported $263 million worth of merchandise to the Philippines in 2024, while Philippine exports to Chile reached $64 million. Philippine shipments to the South American country have increased by 54 percent since 2020, Millan said.

Further growth could follow the Philippines-Chile Comprehensive Economic Partnership Agreement, which the two countries concluded in July. Once signed, the agreement would become the Philippines’ first bilateral trade deal with a Latin American country.

It is expected to provide lower or zero tariffs on eligible products, clearer investment rules and provisions covering e-commerce and digital services.

Strong foothold in Chile

Millan noted that Asian suppliers already have a strong foothold in Chile, with China ranking as its largest import source in 2025. Japan, South Korea and Vietnam also ranked among Chile’s top 10 import sources.

He identified electronics and components for mining, energy and telecommunications, electrical equipment, wiring, textiles, abaca, processed food, coconut-based products, cosmetics, furniture and home décor as possible export opportunities for Philippine companies.

Chile’s health-conscious consumers, preference for private-label products and expanding online shopping market could also benefit Filipino suppliers offering distinctive products and natural ingredients.

For market entry, Millan advised exporters to consider local importers, distributors, sales agents and e-commerce platforms.