Corruption issue raised as France, PH eye deeper economic ties
Metro Manila, Philippines - French and Philippine officials reaffirmed strong trade prospects during the 11th Joint Economic Committee (JEC) meeting, but the issue of corruption surfaced as a key concern for foreign investors looking at long-term projects in the country.
French co-chairperson Magali Cesana of the French Treasury said corruption risks and safeguards were part of their discussions with Philippine agencies, noting French companies want assurance that project implementation remains transparent.
“It’s necessary to put robust safeguards to ensure transparency in procedures,” Cesana said, adding that a clean investment environment is crucial in keeping French investor confidence in the country.
“French companies must be secured when they make investments,” she said.
Trade Undersecretary Allan Gepty acknowledged corruption is a global issue, but noted that government mechanisms are in place to ensure credibility in investments and programs coordinated with foreign partners.
“Corruption is a problem every country faces. We have to address it wherever we are,” Gepty said. He added the sustained interest of France in aerospace, infrastructure, agriculture, maritime, energy and human capital development reflected confidence in the Philippine government.
Both sides said the JEC discussions included updates on France’s investments in infrastructure, shipbuilding for the Philippine Coast Guard, and food and agriculture arrangements, including market access improvements expected to help Philippine exports in Europe.
French officials also emphasized the urgency of reducing procedural delays in project rollout and improving implementation of their government-to-government financing agreement signed in June 2024.
The Philippines is pushing to conclude negotiations next year for a free trade agreement with the European Union, a deal both sides said would permanently deepen economic cooperation.
France was the Philippines’ 19th largest trading partner in 2024, with total trade valued at $1.54 billion.
