PH, France eye economic cooperation on renewable energy, green technology
MANILA, Philippines — The Philippines and France are looking into pursuing economic cooperation on renewable energy and green technology.
During the 8th Joint Economic Commission (JEC) meeting between the Philippines and France, both countries have committed to closely collaborate on sectors of mutual interest by encouraging more business visits, increased technical capacity building exchanges in emerging industries, and promote greater trade and investments.
“Efforts to discuss the possibility of economic cooperation with France on renewable energy and green technology were forwarded in the JEC,” Trade Secretary Ramon Lopez said during his speech at the JEC meeting’s summary of the discussion signing ceremony on Friday in Makati City.
LOOK: Trade Secretary Ramoz Lopez and Ministry for Europe and Foreign Affairs Jean-Baptiste Lemoyne sign the Summary of Discussion containing key highlights of the 8th France-Philippines Joint Economic Committee | @CMRamosINQ pic.twitter.com/M6ETXQhTt8FEATURED STORIES
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The 8th installment of the JEC meeting between the Philippines and France focused on capacity building programs for animation services, green design, content development, satellite development, and data sharing, among others.
Lopez and French Secretary of State for Europe and Foreign Affairs Jean Baptiste Lemoyne likewise urged business leaders from both countries to frequently exchange business missions with their counterparts and participate in each other’s startup events and key trade expositions.
According to Lopez, “opportunities were identified for future engagements between French and Filipino companies, specifically in priority sectors for promotion including the critical aerospace and electronics industries of the manufacturing sector, which produce a sizable percentage of traded merchandise goods exchange between our two countries.”
He added that cooperation projects related to infrastructure and transportation, particularly in key urban centers in the Philippines, were also discussed during the meeting.
Lopez noted that the JEC meeting with France, which was established in 1994, is the “first and longest running JEC meeting of the Philippines with a European country.”
The total trade between the two countries grew to $2.4 billion in 2018. This figure is up by 52.43 percent from the $1.73 billion in 2017.
Philippine exports to France was up by 38.48 percent while French exports to the Philippines increased by 64.63 percent.
This total trade figure has placed France as the Philippines’ 15th largest trade partner.
France is also the country’s 16th largest country-source of products and the 12th largest export destination of the Philippines.
Representatives from both governments, Philippine business leaders, and a delegation from a French business confederation group, Mouvement de Enterprises de France-Internationale (MEDEF International) participated in the JEC meeting. (Editor: Eden Estopace)
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