PH-Germany trade seen improving in ’14

Total bilateral trade between the Philippines and Germany is expected to further improve this year from the $4.7 billion posted in 2013.

The expected increase in trade revenues could be attributed to the successful trade missions to Germany led by Trade Secretary Gregory L. Domingo, the German-Philippine Chamber of Commerce and Industry (GPCCI) said Friday.

In a statement, GPCCI general manager Nadine Fund confirmed that the chamber continued to receive a steady influx of inquiries, especially from German enterprises that are keen on doing business in the Philippines.

“The reform measures being implemented by the present administration under President Benigno Aquino III have encouraged German investors to look seriously into the Philippines. We in GPCCI hope that this can be sustained and more policies would be put into place to improve the investment climate in the Philippines,” Fund explained.

Fund, who accompanied Domingo in Germany last June, said the Philippine trade chief met with leaders of around 60 German companies to promote the Philippines as an investment destination.

During the trip, the GPCCI also introduced successful examples of the German Mittelstand or small- and medium-scale enterprises.

The Philippines’ total exports to the European Union (EU) reached $12.807 billion in 2013.

Germany was the country’s top trading partner with a total trade of $4.689 billion or 36.6 percent of EU’s total trade with the country.