The Market Monitor Minding the Nation's Business
The Philippines is positioning itself as a “premier strategic gateway” for Latin American companies seeking access to Southeast Asia’s USD4 trillion market, Foreign Affairs Secretary Ma. Theresa Lazaro said.
During her official visit to Brazil and Chile from Aug. 10 to 13, Lazaro highlighted opportunities to deepen trade, investment and economic ties between the Philippines and Latin America, citing shared cultural links and growing cooperation.
“Formal agreements open doors, but people and businesses sustain resilient economies. Our shared history, faith, and cultural affinities form a natural foundation for academic exchanges, tourism, and talent mobility between our regions,” she said in Chile.
“Upon this human foundation, commercial bridges thrive: the Philippines stands as the premier strategic gateway for Latin American firms expanding into ASEAN’s USD4 trillion market.”
Lazaro noted that Philippine companies are already establishing a presence in Latin America, citing International Container Terminal Services, Inc. (ICTSI), which operates port terminals in the region.
She said stronger logistics links between the Philippines and Latin America could pave the way for direct trans-Pacific shipping routes, helping reduce costs and strengthen supply chains against global disruptions.
“The Pacific Ocean does not separate us – it links our destinies. In an uncertain world, building this trans-Pacific bridge is an existential imperative – a partnership of equals that ensures our nations remain secure, resilient, and sovereign,” Lazaro said.
Although Latin America represents a USD7 trillion economy, the region accounts for less than 2 percent of Philippine trade, underscoring the potential for greater economic engagement.
Lazaro said the Marcos administration is seeking investments from Brazil and Chile in renewable energy, critical minerals and mining technology, while also pursuing cooperation in agricultural technology and food security.
In turn, she said, the Philippines can offer Latin American partners capabilities in semiconductors, electronics, processed food and global services.
Beyond trade and investment, Lazaro proposed a broader maritime partnership with Chile and deeper defense cooperation with Brazil, including maritime domain awareness, ocean governance, disaster resilience and efforts to combat illegal fishing.
During her trip, Lazaro met with Brazilian President Luiz Inácio Lula da Silva and Chilean President José Antonio Kast, where she conveyed Manila’s interest in expanding bilateral cooperation in trade, science and technology, education and other areas.