In a span of just five days this month, the Philippines managed to strengthen bilateral ties with two countries in Europe: Germany and the Czech Republic . In the process, President Marcos Jr. has brought home tangible benefits for the country in the form of trade and investments deals as well as pledges of assistance in our defense and security requirements.
In his meeting with German Chancellor Olaf Scholz in Berlin as part of a three-day working visit, the President discussed ways to further enhance trade and investments between our two countries. After all, Germany is our 11th trading partner in 2023 and has been a major source of foreign direct investments. Among the prominent German companies in the Philippines at present are Siemens, Lufthansa, Deutsche Bank, Bayer, and Bosch, among others. The Philippines can benefit as well from expanded cooperation with Germany in manufacturing, construction and infrastructure, innovation and startups, as well as renewable energy and minerals processing.According to the Department of Trade and Industry, the total investment commitments made during the Germany visit amounted to $4 billion (about P220 billion) in key sectors like health care, manufacturing, innovation, agriculture, and renewable energy. This will no doubt create more jobs for Filipino
Philippines Germany Czech Republic Bilateral Ties Trade Investments Defense Security Cooperation Jobs
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