21 October 2015 – After a 12-year hiatus, the Philippines-France Joint Economic Committee (JEC) was revived on October 20 with the hosting of France of the seventh meeting.
French Secretary of State for Foreign Trade and Tourism Promotion Mathias Fekl welcomed the Philippine delegation headed by Trade and Industry Secretary Gregory L. Domingo. The delegation included officials from the Department of Finance, the Department of Tourism, the Civil Aeronautics Board and the Philippine Embassy in Paris.
The JEC was revived following the political commitment made by President Benigno S. Aquino III during his Official Visit to France in September 2014. This was reciprocated by French President François Hollande during his State Visit to the Philippines last February.
The JEC meeting allowed both countries to discuss cooperation in various fields, such as in Aeronautics; Agriculture and Agri-food; Sustainable Development; Health; Tourism; and Creative Industries.
The Joint Communiqué signed by both Parties called for “new cooperation in the aerospace sector, including training, maintenance research and development and supply chain integration”. It also mentioned the need to find ways to “develop agriculture in the Philippines and enable it to have better access to foreign markets particularly the European Union”, especially in light of the GSP+ status granted by the EU to the Philippines last Christmas.
According to Secretary Domingo, the value of certain processed food exports from the Philippines to France has already increased by over 30 times from January to July, compared to the same period last year. Exports of edible fruits, fruit juices and fruit mixtures also increased seven-fold. “There is therefore great potential in other product sectors”, the Secretary added.
After fruitful exchanges in the other sectors, Secretary Domingo extended an official invitation to the French delegation for the next JEC meeting in the Philippines in 2016.
France is the Philippines’ fourth largest trading partner in the EU. Total trade between the two countries reached US$ 2.5 billion in 2014, representing a 34% increase from 2013. END