By Bernie Cahiles-Magkilat
The Philippines and Germany seek to intensify their bilateral trade cooperation through the signing of the Joint Declaration of Intent (JDoI) to establish the Joint Economic Commission (JEC).
According to Germany PCCI President Tristan Arwen “Bobbit” Loveres, Trade and Industry Undersecretary Ceferino Rodolfo and German Parliamentary State Secretary Thomas Bareiß signed the declaration on 20 August 2019 at the Federal Ministry for Economic Affairs and Energy in Berlin, Germany.
“We are enthusiastic about the perspective of the Philippine-German trade relations through setting up a JEC as it will strengthen more economic partnerships across many sectors,” said Laveres.
“The signing of JDoI is a remarkable signal on the partnership and we are looking forward to the JEC,” he said.
The JDoI seeks to convene the JEC which will be a platform to discuss various aspects of trade, investments and economic partnerships that shall promote private sector synergy and further enhance the overall bilateral economic relations between the two countries.
Germany is the biggest trading partner of the Philippines in the European Union and its 11th global trading partner with a total trade volume of $7.4 billion in 2018.