Manila, 9 August 2022 (TDI): The Secretary of Finance of the Republic of Philippines, Benjamin Diokno, met the Ambassador of France to the Philippines, Michele Boccoz, to discuss ways to further strengthen the bilateral partnership.
The meeting between the two sides took place at the Department of Finance of the Philippines. The purpose of the meeting was to discuss ways to bolster the bilateral partnership.
The Secretary of Finance said, “We have many projects in the pipeline with France.” Further, the Secretary added, “These areas include infrastructure, maritime security, disaster risk management, agriculture, green energy, education and climate change.”
Additionally, the Secretary of Finance also encouraged French companies to invest in the Philippines. Diokno added that the Philippines has amended the century-old Public Service Act which now allows public services to 100 per cent foreign ownership.
In return, Michele Boccoz expressed gratitude for the fruitful discussion between the two sides and wished for stronger bilateral relations.
Thank you very much Secretary for a very fruitful discussion. I am glad 🇵🇭 and 🇫🇷 are strengthening the bilateral relations, as we celebrate the 75th anniversary of the Treaty of Amity. Stronger together! #PhilFrance75 @FrenchEmbassyPH https://t.co/javYH2X3iV
— Michèle Boccoz (@MBoccoz) August 8, 2022
Read more: US Secretary of State visits Philippines
France-Philippines relations
On June 26, 1947, diplomatic relations between the Philippines and France were established. The relations were established following the signing of a Treaty of Amity in Paris between the two countries.
Moreover, France is the Philippines’ fourth largest trading partner in the European Union after Germany, the Netherlands, and the United Kingdom and is home to 200,000 Filipinos.
In 2020, trade between the two countries amounted to $1.03 billion, with $472.33 million worth of exports from the Philippines. Additionally, the total remittances from overseas Filipinos in France amounted to $47.53 million in 2020.
Furthermore, in 2022, the diplomatic relations between the two sides marked their 75th anniversary. Both countries marked the 75th anniversary of their diplomatic relations with a stronger commitment to expanding the Franco-Philippine partnership.
The areas of common interest between the two countries include trade and investment, maritime cooperation, climate action, and people-to-people exchanges.
