French firms express interest in Phl

MANILA, Philippines - French companies are interested in business opportunities in the country.

Trade undersecretary Ponciano Manalo, Jr. told reporters on the sidelines of the Philippines-France Conference yesterday the French business delegation, composed of more than 20 companies from France’s biggest business organization MEDEF International, is looking at available opportunities here.

“They’re interested in PPP (Public Private Partnership) projects, aerospace, energy...and in opportunities in Mindanao,” he said.

“We’re very happy the French delegation is here and they can have a view on the Philippines,” he said further.

MEDEF’s business delegation is a return visit to the country following the trade and investment mission conducted by the Department of Trade and Industry in France in September last year.

Manalo said the DTI is planning to visit France again sometime this year in line with its aim of increasing trade and investment ties with European countries.

MEDEF International Business Delegation president Philippe Matiere told reporters there has always been strong interest from French companies to do business in the Philippines.

“This is because of the continuous growth of the economy and success of French companies in the Philippines,” he said.

He added that the Philippine government has facilitated an environment more conducive for business.

French economic counsellor Gilles Vernet said it is in the interest of France to strengthen its economic relations with the Philippines.

“We support the EU GSP+ (European Union Generalized Scheme of Preferences Plus) status leading to a free trade agreement with the EU,” he said, noting that being a beneficiary of the trade scheme would allow the Philippines to increase trade with France.

The EU GSP+ covers 6,274 products that could enter the EU at zero duty.

Currently, the Philippines is a beneficiary of the regular GSP which covers 6,209 products, with 2,442 products subject to zero duty and the rest slapped with lower tariffs.

Two-way trade between France and the Philippines is valued at two billion euros.

For his part, French Ambassador Gilles Garachon said he would encourage more French tourists to visit the country.