Germany has expressed firm support for the revival of negotiations concerning a free trade agreement between the Philippines and the European Union (EU). The German ambassador to the Philippines, Andreas Michael Pfaffernoschke, emphasized the nation's keen interest in exploring new business opportunities and fostering bilateral ties. The envoy noted the potential for increased exchanges of skilled workers and collaboration on various fronts.
Promising Prospects Ahead
Andreas Michael Pfaffernoschke, the new German ambassador to the Philippines, lauded the initiative to reopen discussions on a Philippines-EU free trade agreement. He underscored the significance of mutually beneficial economic prospects for both nations, including strengthened people-to-people relations. The exchange of skilled workers and expanding business avenues could further enhance ties between Germany and the Philippines.
Collaboration Beyond Trade
President Ferdinand R. Marcos Jr. and Ambassador Pfaffernoschke have extended their collaboration to areas beyond trade and investment. They have pledged to work closely on climate change mitigation and adaptation efforts. This collaboration underscores the shared commitment of both nations to address pressing global challenges and work towards sustainable solutions.
Trade Ties in Numbers
In the past year, Germany retained its position as the Philippines' 12th largest trading partner, 10th biggest export market, and 15th import supplier during January-October. The bilateral trade volume between the two countries amounted to $4.7 billion, encompassing $2.8 billion in exports and $1.9 billion in imports. Moreover, Germany stands as the Philippines' primary trading partner within the EU.
In a dynamic move, Germany reaffirms its support for reinitiating talks on a Philippines-EU free trade agreement, poised to invigorate trade relations and foster collaboration on multifaceted fronts.
