German Companies Eager to Discover Prospects in the Philippines, Says Ambassador

19 Aug, 2023

German Companies Eager to Discover Prospects in the Philippines, Says Ambassador

On Thursday, German Ambassador Andreas Michael Pfaffernoschke communicated with President Ferdinand Marcos Jr that German businesses are enthusiastic about investigating opportunities within the Philippines, as stated by the Palace.

This development follows the decision of the European Commission to resume free trade negotiations with the Philippines, which had been suspended during the tenure of former President Rodrigo Duterte.

Ambassador Pfaffernoschke emphasized the keen interest of German businesspeople in exploring novel possibilities and ventures in both countries. He highlighted the reciprocal benefits for not only the German industry in the Philippines but also for the Philippine industry in Germany.

Pfaffernoschke also underscored the robust people-to-people ties between the nations, expressing hope that these connections would strengthen further as worker exchanges between the Philippines and Germany increase.

Marcos acknowledged the presence of overseas Filipino workers in Germany as a foundational element for expanding the dimensions of the Philippines-Germany relationship. He highlighted the importance of continuing development cooperation between the two countries, predicting its growing significance in the near and medium terms.

According to Malacañang, Germany ranked as the Philippines' 12th largest trading partner in 2022, with exports amounting to $2.8 billion and imports totaling $1.9 billion.