Friday, October 30, 2015

PH revives Joint Economic Committee with France October 30, 2015

Friday, October 30, 2015  Herbert Curia - Promoter  No comments


From the Website of the President
PH revives Joint Economic Committee with France October 30, 2015
Department of Trade and Industry Secretary Gregory Domingo and French Minister of State for Foreign Trade Mathias Fekl met in Paris, France recently to reconvene the Philippines-France Joint Economic Committee (JEC) after a 12-year hiatus.
The high level meeting fulfilled a political commitment between President Benigno S. Aquino III and President Francois Hollande when the two Heads of State met on September 2014 and February 2015. The PH-France JEC was established in 1994 and was last convened in 2003.
Domingo welcomed the reactivation of the Philippines-France JEC, saying that this is an integral part of the Philippines’ overall strategy for Europe. The Philippines has been aggressively pursuing trade partnerships with the European Union (EU) and was given beneficiary country status under the EU Generalized System of Preferences Plus (EU-GSP+).
The JEC focuses on broadening cooperation in the areas of creative industries, tourism, sustainable development, aerospace, and aeronautics.
“The aerospace and aeronautics sector is an area that both Ph and France are eager to pursue. This is a growing sector with huge potential for the Philippines to become an aerospace hub in the field of aircraft maintenance and production. We welcome the commitment to deepen existing cooperation between the civil aviation agencies of the Philippines and France and the companies in the aerospace sector,” said Department of Trade and Industry Undersecretary Adrian Cristobal Jr.
The Philippines’ domestic aerospace industry has an estimated .15% share of the 2013 GDP, and a projected 0.57% share of the 2022 GDP. It contributes 2,200 in direct employment, generating an estimated 10 million dollars as salaries of direct and allied workers. It expects to generate 1.5 billion dollars in revenues in the next 10 years.

Office of the President Website

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