France eyes stronger trade ties amid global trade tensions

Metro Manila, Philippines - France is seeking to deepen trade relations with the Philippines to help navigate global trade tensions, including the lingering effects of trade wars triggered by major economies like the United States and China.

French Minister Delegate for Foreign Trade and French Nationals Living Abroad Laurent Saint-Martin, who was in Manila for a two-day official visit, said closer cooperation between France and the Philippines is timely and necessary.

“We do believe in cross trade. We do believe in cross investment. And this is the first purpose of my visit here in Manila,” he told reporters after meeting with President Ferdinand Marcos Jr. and local business leaders.

Saint-Martin’s visit comes amid renewed concerns over the impact of protectionist policies in major economies, including the US. Asked about the reciprocal tariffs imposed by US President Donald Trump, he noted France’s firm stance within the European Union.

“We support the European Commission when they try to negotiate and to convince Donald Trump and its administration that tariffs and this kind of trade wars that they are initiating can be bad news for everyone, including the United States. So what's happening is when Donald Trump is suspending reciprocal tariffs, and when the President of the European Commission is suspending any possible retaliation is good news, but it's still fragile. So we have to discuss, and we have to convince that a trade war is negative for everyone,” he added

The French minister said nations with shared values like France and the Philippines must work together to promote rule-based trade systems and resist protectionism.

“This is a time where we need to understand when we are close, when we share common values, common values of international trade,” Saint-Martin said.

Around 150 French subsidiaries operate in the Philippines. Saint-Martin said there is room for more French companies to enter the market, particularly in energy, transportation, and communication. He also invited more Filipino businesses to explore opportunities in France.

“Filipino investments are welcome in France, and I’m pretty sure that France can export more products here to the Filipino market and have co-investment with Filipino corporates and investors,” he said.

The official underscored the importance of efforts between the European Commission and the Philippine government to resume negotiations for a trade deal.

“The resumption of the EU–Philippines Free Trade Agreement represents a significant step forward. This agreement could provide meaningful opportunities to deepen access to our respective markets, while taking into account sustainable development,” Saint-Martin said.

“It will also create opportunities to strengthen our relations on key topics, such as energy and raw materials,” he added.

Saint-Martin said both countries now have a stronger bridge to build long-term economic cooperation.

“I’m pretty sure that in the coming years, France and the Philippines will showcase to the world that we can do more together if we acknowledge our mutual potential,” he said.