World Trade Centers Association (WTCA), an international trade organization connecting more than 300 World Trade Center (WTC) locations in nearly 100 countries and territories, sees opportunities for growing trade and investments between the Philippines and France through deeper economic cooperation, particularly with Mediterranean port cities such as Marseille.
Scott Wang, WTCA Vice President, Asia Pacific pointed to the 4th Political Consultations in Manila this March between France and the Philippines as a step in the right direction. In the said talks, both countries committed to strengthening bilateral relations across several key sectors, such as trade and investment, energy, health, climate change, science and technology, defense, and people-to-people exchanges.
The two countries agreed to enhance collaboration in light of the resumption of direct flights between Manila and Paris, while France also reaffirmed its support for the early conclusion of negotiations toward a comprehensive Philippines-European Union Free Trade Agreement. The Philippines and France will celebrate the 78th anniversary of their bilateral relations in June of this year.
“Sustaining bilateral trade with France, which grew to US$ 1.8 billion in 2022, will help spur economic development in the Philippines. In terms of Philippine exports to France, the Mediterranean region is a strategic gateway for Philippine investors looking to strengthen their presence and expand trading opportunities in the EMEA market,” added Mr. Wang.
He further cited Indian Prime Minister Narendra Modi’s trip to France last February, which was capped off by a visit to the Mediterranean port city of Marseilles. French President Emmanuel Macron described the city as a European entry point for massive trade expected via the India-Middle East-Europe Economic Corridor (IMEC).
“Marseille can clearly be the entry point for the whole European market,” Macron said, as he described IMEC as a “fabulous catalyst” for “concrete projects and investment.”
The Port of Marseille Fos is rapidly becoming one of the top digital hubs globally. In 2022, it signed a concession agreement with international fiber optic networks provider Cinturion for the rights to use submarine landing infrastructure. The port already offers intelligent landing infrastructure for submarine telecommunications cables, connecting cables from around the world to the Marseille and European digital ecosystems and turning the port into an international digital gateway.
Mr. Wang explained that the ongoing 55th annual WTCA Global Business Forum (GBF) in Marseille, France hosted by World Trade Center (WTC) Marseille Provence, is an excellent platform for countries such as the Philippines to not only capitalize on trade opportunities but also leverage on new technologies in sectors such as port operations.
“Sea port expansion remains a focus for the Philippines, which is strategically positioned along key Asia-Pacific shipping routes, and technological shifts are needed to streamline trade flows into the region,” said Mr. Wang.
With the theme “Gateway to the Mediterranean,” this year’s GBF brought together more than 400 attendees from over 50 countries, including WTCA members and their global networks, and leaders from business, government, academia, and international organizations.
Demonstrating the strength of the global WTCA network, the Forum facilitates direct business-to-business (B2B) relationships and investment opportunities across industry sectors including agriculture, architecture, banking and financial services, construction and building materials, consumer goods, food and beverage, freight and logistics, health technology, industrial solutions, manufacturing, maritime and energy services, and tourism.
Marseille was chosen for this year’s event given its role as a critical European hub for trade, innovation, and economic activity. The Mediterranean region connects three continents and plays a vital role in global commerce, boasting strong industries in maritime trade, logistics, energy, tourism, and technology.
Our region has long been a crossroads of global trade, driving economic growth and fostering international collaboration. Between its strategic location, diverse industries, and thriving innovation ecosystem, Marseille is the ideal setting for this year’s Forum,” said Benoit Vincent, CEO, WTC Marseille Provence. “This event will create new opportunities for investment, trade, and partnership in one of the world’s most dynamic economic regions.”