French Firms Eye More Trade and Investments in the Philippines Under Pres. Duterte

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French Firms are now eyeing more trade and investments expansions in the Philippines even amid the violent fighting in Marawi City as confirmed by French Ambassador to the Philippines Ambassador Thierry Mathou during an interview with some reporters.

According to the French ambassador he don’t see so far any impacts of the current (Marawi) situation in the business of various French firms operating in the Philippines.

French Ambassador Mathou revealed that more French companies were keen to invest and develop trade and economic relations with the Philippines particularly in infrastructure, energy, pharmaceuticals and other strategic sectors.

The French ambassador also bared that his country had been working with the Philippine Department of Agriculture (DA) headed by Sec. Manny Pinol to finalize an agreement on agriculture “so it will give the opportunity for the two countries to cooperate in this important sector.”

As of today a total of 80 French companies are operating in the Philippines. The French Ambassador also noted that France and Philippines had already celebrated the 70th anniversary of their bilateral relations “but we thing that there is still room to develop interest in the Philippines as a potential market in the region,” he said.

Ambassador Mathou also revealed that more and more French companies are taking a renewed interest in the Philippines as a potential market in the region,” he said. During the year 2015, trade between France and Philippines amounted to 1.44 billion euros.

Philippine exports to France experienced a 28-percent increase to USD 602 million, attributable to the increase of exports of electronic components and agricultural products.

Source: Philippine Information Agency (PNA)

Ed Umbao

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