Germany sees the Philippines as a valuable partner economically but concerns like red tape continues to be a challenge.
Dr. Andreas Pfaffernoschke, ambassador of the Federal Republic of Germany to the Philippines, said German companies are interested to do more and invest in the Philippines but there is “still a lot of red tape.”
“We acknowledge the initiatives of government to move forward (and make) business easier but we need to succeed and see concrete results on the ground,” Pfaffernoschke said.
He said the Philippines is a promising partner for Germany’s diversification of its supply chain in this part of the world.
David Klebs, economic counsellor of the Embassy of Germany in the Philippines, said the Philippines can play a role in Germany’s strategy of the “China plus one” and in exploring new markets and services that are of mutual interest.
Klebs said Germany supports the planned Philippines-European Union free trade agreement for market access for goods, services, investment and government procurement.
The agreement will result in less obstacle to digital trade and trade in energy and raw materials as well as low tariffs on goods.
There are 300 German companies operating in the Philippines.
Germany and Philippines are celebrating 70 years of diplomatic ties in 2024.
