MANILA and Paris are looking to improve cooperation in the infrastructure, transport, aviation, agriculture, and security sectors, following their Joint Economic Committee (JEC) meeting on Tuesday.
“We have covered a wide range of topics, projects, and initiatives which basically reflect the strong economic relations of the Philippines with France,” Trade Undersecretary Allan B. Gepty told a news briefing, without providing specific details.
“This range of topics would cover their interest in public works or infrastructure development, aviation, railways, agriculture, cybersecurity, interest in film development, human capital development, and even tourism among others,” he said.
Mr. Gepty added that France remains a key trading and investment partner for the Philippines.
France is the country’s 19th top trading partner valued at $1.54 billion, and 20th biggest export market $404.28 billion, and 18th biggest source of import at $1.14 billion as of 2024. Total trade between France and the Philippines represented a 4.3% growth in the last 10 years.
He added that Paris is vital to the approval of the Philippines and European Union free trade agreement (EU-FTA), as they seek to complete negotiations by next year.
“Moving forward, our relations with France is very promising and we can see a lot of good prospects as we move forward in our economic relations with them,” he said. “Especially as we embark on a deeper and permanent trade relations as we forge the free trade agreements with the European Union.”
The Department of Trade and Industry earlier said that FTA negotiations between Philippines and the EU were on track.
“France is one of the EU countries who has been very supportive in our effort to force this FTA,” Mr. Gepty added.
The Philippines-EU FTA is expected to be the country’s most comprehensive trade agreement, being the first such deal to tackle government procurement, digital trade, energy and raw materials, and trade and sustainable development. — Adrian H. Halili
