Phl, France seek to boost trade, diversify markets

The Philippines and France are seeking to boost bilateral trade by tapping untapped export opportunities and diversifying markets amid the United States' move to impose higher tariffs on its trading partners.

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In a press briefing following the Philippines-France Joint Economic Committee (JEC) meeting, Trade Undersecretary Allan Gepty said both countries see strong potential to expand trade and investment ties.

"Based on a study, there's still billions of dollars of untapped export potential to the EU (European Union) market in general," he said, noting the lack of awareness on export opportunities in the EU market.

In addition, some exporters are unable to comply with the EU's rules and regulations.

For her part, Magali Cesana, head of bilateral affairs at the French Treasury, said there is still room to grow the current level of two-way trade between the Philippines and France.