The Philippines and France Strengthen Bilateral Economic Cooperation
At the 11th Joint Economic Committee meeting in Pasay City, the Philippines and France reiterated their commitment to working together more closely in a number of fields. Trade, infrastructure, aviation, trains, agriculture, cybersecurity, and tourism were among the main topics of conversation between the two countries.
Allan Gepty, the Undersecretary of Trade, said that the projects showed that the two countries had good connections and wanted to prosper together in the long run. He stressed that the collaboration is in line with the Philippines’ efforts to get a free trade deal with the EU.
Trade Relations Reach New Heights Amid Promising Outlook
In 2024, France was the Philippines’ 19th largest trading partner, with commerce worth more than $1.5 billion. The country was also the 20th-largest place to send goods, showing that trade between the two economies is stable.
The Department of Trade and Industry claimed that negotiations over a free trade deal with the European Union show that the company is growing. These talks are likely to make it easier for the Philippines to do business with European markets and open up new market access routes.
French Delegation Expresses Optimism for Investment Growth
Magali Cesana, a French representative, said that the rising number of Philippine projects is good news for French businesses. She noted that both countries have a lot of room to grow their trade and investment with each other to make them more competitive.
Cesana stressed that working together on technology, energy, and infrastructure development might lead to real results for long-term relationships. She also said that both governments need to keep establishing trust and making sure that their rules are the same in order to keep investors’ faith.
Recommended Article: Thailand Approves 122B Baht Debt Plan To Help Small Borrowers
Poultry Export Agreement Marks Major Breakthrough
The meeting’s most important result was the completion of the highly pathogenic avian influenza regionalization plan. The deal now lets French poultry from certified disease-free zones securely access the Philippine market.
The Department of Agriculture had already lifted import restrictions on French poultry and associated items, so this decision came after that. The World Organisation for Animal Health was told by French veterinary officials that all of the epidemic cases had been effectively handled.
Gepty Highlights Importance Of Regular Trade Dialogue
Undersecretary Gepty said that the Joint Economic Committee is an important place to work out trade problems quickly and effectively. He said that regular meetings assist in keeping the momentum going on market access problems and make cross-border collaboration stronger.
He also said that the new poultry deal shows real progress, making things clearer and giving people who are involved in international commerce more confidence. Gepty said again that these kinds of talks assist in getting rid of both technical and policy problems that get in the way of long-term trade growth.
Governance and Anti-Corruption Measures Discussed
Both groups talked about their worries about corruption and the necessity for businesses to be open and honest so that competition is fair. Cesana stated that France emphasizes strong governance as a way to bring in investments and keep the economy steady.
Gepty acknowledged that many nations still have to deal with corruption, but he said that the Philippines is still committed to making changes. He stressed that the present talks involve governance principles meant to make businesses more honest and accountable.
Partnership Opens Door to Future Economic Growth
At the end of the conference, officials said they were hopeful that collaboration will grow in renewable energy, creative industries, and digital infrastructure. France’s development finance organizations are already giving money to initiatives that help the Philippines reach its goals of modernization and sustainability.
Both nations promised again to work for fair trade, shared prosperity, and development possibilities that include everyone. The 11th Joint Economic Committee is another step in building a strong and forward-looking collaboration between the two countries.
