Germany sees improved economic relations with the Philippines following a 26 percent jump in bilateral trade in 2022.
David Klebs, economic counsellor of the Embassy of the Federal Republic of Germany to the Philippines, in his speech at the Beauty & Business for Cosmetics and Wellness event in Makati City yesterday, said bilateral trade in 2022 reached 7.3 billion euros. This is compared with 5.8 billion euros in 2021.
“The economic relations are brightening up tremendously. We see the Philippine government is doing a lot to to work together with our government to improve (trade) on both sides. We had visits or meetings of our economic ministers on both sides last year… German companies here (are) very happy to do business in the Philippines,” Klebs said.
But Klebs also said Germany also continues to “make sure that the market conditions in the Philippines are suitable for making business… to having a fair market to try to avoid unnecessary obstacles.”
When asked to elaborate, Klebs cited “efficiency of government” as one of the obstacles.
“Bureaucracy is necessary but unnecessary bureaucracy is avoided. That the market oversight is fair,” he added.
He said Germany is exploring all sectors from aviation, business process outsourcing, energy, technology, to digitization among others.
“The German government has a strategy of diversifying its economic relations with many countries. And the Philippines is also one of our potential partners,” he said.
Klebs said Germany goes hand in hand with the European Union on issues like the planned Philippines-EU free trade agreement, noting “we all see the benefits of continuing the negotiations, but the decision on whether to do this lies within the European Union lies within the European Commission.”
Yesterday, the German-Philippine Chamber of Commerce and Industry hosted a delegation of the German Cosmetic, Toiletry, Perfumery, and Detergent Association to explore business opportunities in the country.
The business mission was participated by five German companies: Nobis, producer of dietary supplements and cosmetics; Estatira Organic, manufacturer of essential cosmetic and healthcare products; MedSkin Solutions, a leader in biotech solutions for tissue regeneration and skin health; Medical Beauty Research which specializes in luxury and premium skin and hair care products and; Skin Care Manufaktur which produces innovative and high- quality skin care products.
“The health and beauty industry has immense potential and is evolving,” said Steven Tan, SM Supermalls president.
“For the e-commerce sector, we propose that investors capitalize on developing microtrends,” said Alexandria Garcia, Etaily Fast Moving Consumer Goods / Beauty director. “Filipinos also are heavily concentrated on community / familial ties — recommendations help consumers decide purchases.”
In the following days, the German delegation will further explore partnership potentials with Philippine counterparts through B2B-meetings, and other networking activities. Irma Isip
