BUSAN, Nov. 1 -- President Ferdinand R. Marcos Jr. and Chilean President Gabriel Boric agreed to accelerate the signing of the Philippines-Chile Comprehensive Economic Partnership Agreement (CEPA), a landmark free trade deal that would be the Philippines' first in Latin America.

The two leaders met on the sidelines of the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting on Saturday, where Marcos pushed to deepen economic and political cooperation with Chile, citing the countries' "shared heritage and cultural affinity" as a solid foundation for stronger ties.

The Philippines hosted the third round of negotiations for the deal in October.

"Both leaders agreed to facilitating the signing of the agreement by end of ...