Philippines, Chile ink pacts on disaster risk mitigation, trade

The Philippines and Chile signed on Monday two agreements on disaster risk management and trade.

Philippine President Benigno S. Aquino III and visiting Chilean President Michelle Bachelet witnessed the forging of the memorandum of understanding to strengthen cooperation between the two countries in the area of disaster risk reduction and management with special emphasis on the process of prevention and mitigation, preparedness, response and rehabilitation.

Secretary Voltaire Gazmin of the Philippines Department of National Defense and Chairperson of the National Disaster Risk Reduction and Management Council and Minister Heraldo Munoz of Chile signed the pact.

The second agreement was a letter of intent between the Philippine Department of Trade and Industry and Chile's Ministry of Foreign Affairs on enhancing trade relations.

Trade Secretary Gregory Domingo signed for the Philippines, while Munoz's for Chile.

"The letter of intent signifies the Philippines and Chile's intent to commence discussions on developing a framework for negotiating a mutually beneficial trade agreement that is flexible and pragmatic as to its depth and scope, which may contribute to an increase in trade, in goods and investments, and the promotion of technical cooperation in areas of mutual interest," the agreement said.

During the bilateral meeting with Bachelet, Communications Secretary Herminio Coloma Jr. said Aquino sought and obtained support for the Philippines' prospective application to join Trans-Pacific Partnership after its requirements for structural adjustments are addressed.

Aquino also vowed to share Philippine technology and expertise in rice production with Chile.

The two leaders also agreed to continue to expand cooperation on energy and natural resources development, Coloma said.

Bachelet has been in the Philippines for a state visit and to attend the Asia Pacific Economic Cooperation Summit from Nov. 18 to 19. Endit