Strengthening Philippines – France economic ties

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MANILA, Philippines — The Philippines and France continue to work to strengthen economic ties following the recently concluded 11th meeting of the Phl- France Joint Economic Committee and the Philippine Economic Dialogue here last Nov. 4.

Established in 1994, the JEC is the Philippines longest running bilateral economic and trade dialogue with France, and is held every 18 months, with the last meeting held in Paris.

French Ambassador Marie Fontanel said on the sidelines of the two-day 28th French Film Festival held last week at the SMX Aura, that the JEC is “a regular occasion to assess and review all our economic cooperation between France and the Philippines.”

The Manila meeting was headed by DTI Undersecretary Allan Gepty, and according to Ambassador Fontanel, Gepty pointed out that France represents the 19th commercial partner for the Philippines, “meaning we are present, but the potential is still very important, so we can do more in terms of trade between our two countries.”

Trade negotiations, however, she explained, are “a competence delegated to the European Union, and the good news is, we are negotiating a free trade agreement between the European Union and the Philippines which could definitely boost opportunities for French and European companies in the country.”

The Phl-EU FTA negotiations had been suspended after 2017, during the term of former President Rodrigo Duterte, over the government’s war on drugs. Negotiations resumed in March 2024.

According to Ambassador Fontanel, the talks are proceeding, but reaching an agreement could still take a “couple of years.”

“It has been resumed one year ago and it’s already the 4th round of negotiation. So it’s going well between Brussels and Manila... both parties seem confident that it could be an achievement in the coming, maybe, couple of years... depending on the discussion.”

She cited a similar long negotiation with our ASEAN neighbor, “the European Union just signed with Indonesia after years and years of negotiation. So everything is possible.”

The French envoy, however, is optimistic of continuing French business interest in the Philippines.

“I can feel, anyway, a lot of interest from French companies looking better at the Philippines as an option. For years, it was maybe not that obvious, because the Philippines and France are really far away,” she admitted.

However, Ambassador Fontanel acknowledged some constraints, such as “the geographical distance, but also because there are challenges in the country that make it sometimes difficult for investors to make the choice of investment here. The cost of energy, for example, is something that is often mentioned by the companies as something that makes it difficult to make the choice of the Philippines. But at the same time, the economic growth, the demographic growth, shows the potential,” she said.

Among the key sectors that French companies are already interested in, Ambassador Fontanel said, are “energy – precisely because you have a strong case for transitioning toward a more green, sustainable and cheaper energy. We have our own records in France, we have a great experience in nuclear civil energy.

So, renewable energies, nuclear civil energy. This is something that the companies are already discussing.”

Likewise, she said, “Maritime security is definitely an area where we are doing a lot.  We have a French company, OCEA, which just signed a very historical contract with the (Philippine) Coast Guard for 40 vessels, half of them being built in the Philippines.”

“So it’s really strong. We have a strong expertise and a strong partnership in the field of maritime security. Defense and security is a new area where we could also do more, food security, infrastructure. We have French companies already involved in the country – Alstom, Puig, Colas, (a Bouygues Group Company). All those French companies are already committed in the country and doing a lot of projects with Filipino companies or Filipino conglomerates,” she revealed.

Another area of cooperation that is ramping up, the French Ambassador said, is in the area of creative industries, such as film co-production.

France and the Philippines, she said, “had signed a historic co-production agreement this year, in May 2025, after a long, long work at the bilateral level to convince the Philippines to ratify the UNESCO convention on cultural diversity. The co- production agreement was signed, and now it opens up for possibilities for co-production, and why not at some point investment? But we are at the start of the discussion. What I felt during this joint economic committee was that we felt a new, increasing interest from the DTI on creative industries. So this is something that France has a great record on. And so we are able and happy to partner with the Philippines. It seems to be a will, but now we also have to receive requests,” she said.

The 28th French Film Festival marked a historic milestone in Philippine and French cinema as it unveiled the inaugural French-Philippine Co-Production Conference, a two-day industry platform designed to catalyze new partnerships, investments and joint film projects between the two countries.

The two-day event was recently held at SMX Aura, BGC, Taguig City. The conference serves as the first major initiative following the signing of the France–Philippines Film Co-Production Agreement during the 78th Cannes Film Festival on May 14, 2025.

The signing of the co-production agreement formalizes and expands these opportunities, allowing Filipino producers and directors to access French funding mechanisms, grants, tax incentives, talent networks and distribution channels, strengthening both creative and commercial pathways.

Ambassador Fontanel delivered the opening remarks, noting that the event marks a new era for French–Filipino cinema. FDCP chairman Jose Javier Reyes and DFA Undersecretary for International Economic Relations Maria Andrelita Austria also gave special messages emphasizing that the collaboration enriches cultural ties while supporting creative industries and economic growth.