A high-ranking official of the Department of Trade and Industry said the French government remains confident with the local business environment even if the Philippine government is hounded by corruption controversies.

Trade Undersecretary for Foreign Relations Allan Gepty stressed that corruption is not unique to the Philippines. “It is a problem that every country, every economy faces. Wherever you are, you have to address corruption because it is a serious issue that needs vigilance in combating. The good thing is that, in our joint economic committee meeting, we discussed all issues and concerns relating not only to trade and investments, but also to development and technical assistance, and infrastructure development. So, any issue that would hinder the facilitation of our engagement with any trading and investment partner, we have to discuss that and find a solution,” said Gepty in a press conference during the 11th Philippines-France Joint Economic Committee (JEC) Meeting at the Sheraton Manila Hotel in Pasay City on Tuesday.

Strong ties

Gepty said that although the issue of corruption in the government affects any bilateral trade and investment with other nations, like France, what matters is the strong ties and extent of the relationship that the country has with its trading partners.

“Given the wide range of areas French companies are interested in exploring opportunities here, I think that is a reflection of France’s trust in the Philippine government,” Gepty stressed.

During the JEC meeting, Gepty said French firms and the French government are interested in investing in Philippine aviation, infrastructure, maritime, agriculture, field development, aerospace, human capital development, railways, and satellite, an indication of the strong relationship established between the two countries.

Procedural delays

Asked about the common challenges that French firms are facing in investing in the country, Magali Cesana, head of the French Treasury’s Bilateral Affairs said that procedural delays should be improved within the Philippine government.

“It is something that we discussed a lot, how to alleviate delays in the procedure. We signed a government-to-government (G2G) agreement last year, and it has taken a long time for its implementation. But I am sure we will be quicker in the next project,” she said.

On the issue of curbing corruption, Cesana said the French government and investors see the necessity for the Philippines to fight corruption and create a sound business climate for the country to maintain investment attractiveness.