“The Philippines is positioning itself as Latin America’s bridge to Southeast Asia, testing whether shared history and culture can translate into hard trade figures as Asean and the Mercosur bloc look beyond their traditional partners.”
“Manila’s Foreign Secretary Maria Theresa Lazaro made the pitch during visits to Brazil and Chile from August 10 to 13…”
“Lazaro also floated the idea of expanding logistics links – citing the regional presence of Philippine port operator International Container Terminal Services – as a way to cut costs and shield supply chains from global shocks via direct trans-Pacific shipping routes.”
“The pitch lands in a crowded field, however: Singapore remains Southeast Asia’s dominant commercial, financial and logistics hub, while Vietnam and Indonesia have attracted growing interest from companies looking to diversify supply chains.”
“It also comes as the Association of Southeast Asian Nations and Mercosur – a South American trade bloc whose members include Brazil, Argentina, Bolivia, Paraguay and Uruguay – look for new partners amid US tariffs, energy insecurity and wider geopolitical uncertainty.”
“The two blocs do not have an existing free-trade agreement with each other and most trade is still conducted bilaterally. Combined two-way trade totalled a modest US$33.3 billion in 2023, the latest year for which figures are available.”