Info drive to make French investors know of PH—envoy
The Philippines and France should first strengthen their relationship through exchange promotion programs to make both Filipinos and French more aware of each other’s cultures, history, and then move forward towards establishing more trade partnerships in the future.
French Ambassador to the Philippines Gilles Garachon and French Chamber of Commerce and Industry president Cyril Rocke suggested this action during their visit to Cebu last week.
Ambassador Gilles said France was now seeing the Philippines as a potential for investments with most French businessmen having a positive impression of the country.
“The impression is positive (with) the booming economy, country (Philippines) is developing very fast and the Philippines will need more FDIs (foreign direct investments) to sustain this growth which is what your government is also looking at doing. And we are very open to be involved in that development,” said Garachon.
The ambassador said there were already French companies which established their businesses and investments in the country from energy to personal care products.
He said the Philippines, however, could get more investments if only other businessmen in France would get to know the country more.
“France is geographically very far from the Philippines so it may take more effort to make people there be more aware about your country,” said Garachon.
Rocke agreed.
He said activities were already being lined up to address this issue.
“We have an exhibit scheduled in Paris where we will be showcasing items that is part of the Philippine history and culture. The trading relationship between our countries has been very limited in the past and our aim is to double that within two years,” said Garachon.
In Cebu, Rocke said that they were communicating with the French Consul Michel Lhuillier for investment opportunities here in Cebu.
Garachon said they would be interested in various industries for investments like “infrastructure, transport like airline companies, cement business, trains, railways, cosmetic business, food, fashion, tourism like hotels.”
EU Air Ban
Garachon cited one of the major setbacks that should be solved immediately—the European Union (EU) ban of all Philippines carriers from operating within the EU region, which meant that European travelers including the French couldn’t get comprehensive tickets direct to other destinations in the country like Cebu.
“This is one of the drawbacks which is directly affecting tourism traffic from our country to your country and also affects other travelers like the businessmen from coming here. This I think should be a priority issue that should be solved,” said Garachon.
The French ambassador revealed he had been in talks with industry officials from both countries for the lifting of the ban by June this year.
He said once that would be lifted, the Philippines could expect more tourism and trading activities to happen.
Statistics
Based on the 2012 Department of Trade and Industry data, our total trade with France amounted to $1.24 billion from January to December last year.
However, imports make up majority of the total trade with France with $884.4 million with only $359.6 million in exports.
Trade however is not balanced with majority or $884.4 million going to in imports and with only $359.6 million are from our exports.
French investments in the Philippines also reflected a “significant increase” last year with total approved investments of P1.145 billion or 90 percent higher year on year.
Tourism traffic however is not that significant with only 33,709 French tourists who visited the country last year, barely a percent share of the total foreign tourist that visit us and only about 13.92 percent growth from that of 2011 arrivals.
