BERLIN—The German-Philippine Business Forum on March12 marked a key milestone in boosting the global business ties between Germany and the Philippines.
The German-Philippine Chamber of Commerce and Industry (GPCCI) and the Asia-Pacific Committee of German Business (APA) and the Department of Trade and Industry’s Philippine Trade and Investment Center (DTI-PTIC), hosted the landmark event, graced by President Ferdinand R. Marcos Jr.
“As the biggest economy in the European Union [or EU, in gross domestic product] and population, and a global force in technology and innovation, Germany is certainly one of the countries where we look forward to further fostering strong business partnerships and collaborations between our two countries,” said Marcos Jr. in his keynote speech. “We are grateful for the interest of German companies to support the Philippines’s commitment to sustainability and climate resiliency.”
The president shared valuable insights into the promising linkage between the two nations. He highlighted the importance of Germany as a key partner in the EU, then outlined policy reforms and key legislations aimed at making the Philippines a more attractive destination for foreign investors.
His address underscored the Philippines’s commitment to being a dependable partner in fostering strong business partnerships and collaboration.
Meanwhile, the forum coincided with the 70th anniversary of Philippine-German diplomatic ties. Notably, it saw the participation of distinguished guests from the German side such as APA chair Dr. Roland Busch who is the CEO of Siemens AG, and Parliamentary State Secretary Stefan Wenzel of the German Federal Ministry for Economic Affairs and Climate Action—both of whom emphasized the commitment to deepening bilateral trade relations.
A high point in the forum was the signing of eight strategic agreements between the Philippines and leading German companies. These accords, encompassing three letters of intent, two memoranda of agreement, and three memoranda of understanding, aim to revolutionize Philippine sectors such as healthcare, agriculture, manufacturing, and digital technology.
The forum culminated in a panel discussion led by GPCCI president Stefan Schmitz, Ayala Group AC Motors CEO Jaime Alfonso Zobel de Ayala and Bosch Southeast Asia’s president Vijay Ratnaparkhe. The panel explored topics on Philippine investment climate, ease of doing business, discussion of key sectors, and the EU-Philippine Free Trade Agreement, among others.
“We are thrilled to observe the dynamic trade and investment connections that have been reinforced between Germany and the Philippines through this significant visit,” said Schmitz “Representing the interests of the German-Philippine business community, we are honored to support this historic event and eagerly anticipate welcoming potential German investors to the Philippines.”
In 2022, Germany ranked as the Philippines’ 12th largest trading partner, 10th export market, and 15th import supplier. Moreover, in 2023, the DTI’s Board of Investments reported Germany as a top source of foreign investments, with commitments of P393.28 billion, further solidifying its status as the Philippines’s top trading partner in the EU.
Image credits: Presidential Communications Office