Philippines seeks stronger economic ties with Germany

MANILA, Philippines — The Philippines and Germany have launched a Joint Economic Commission (JEC) which is expected to boost their bilateral ties.

In a statement, the German-Philippine Chamber of Commerce and Industry (GPCCI) said it welcomes the launch of the JEC which had its inaugural meeting online on Sept.15.

The JEC meeting was led by Trade Undersecretary Ceferino Rodolfo and the Parliamentary State Secretary Marco Wanderwitz from the German Federal Ministry for Economic Affairs and Energy (BMWi).

Recognizing the private sector’s role in bilateral relations, the JEC featured companies and associations from both the Philippines and Germany including Integrated Micro-Electronics Inc., Lufthansa Technik, DMCI Holdings, Bauer Spezialtiefbau, Continental and the Semiconductor and Electronics Industries in the Philippines Foundation Inc.

“The enhanced economic cooperation between the Philippines and Germany creates great business opportunities for the mutual benefit of the two countries and for the businesses involved,” GPCCI executive director Martin Henkelmann said.

Even as the pandemic persists, GPCCI continues to encourage stronger economic ties between the two countries.

“GPCCI stays committed to promote the bilateral business relations despite these trying times,”  GPCCI president Stefan Schmitz said.

In August last year, the Philippines and Germany signed the joint declaration of intent to establish the JEC.

Through the JEC, countries discuss how to push for stronger bilateral economic ties.

Germany is the Philippines’ top trading partner in the European Union,with total trade volume at €6.5 billion last year.