2-WAY TRADE. German Embassy in Manila Economic Counselor David Klebs delivers his remarks at the Beauty and Business in Cosmetics and Wellness Conference at Fairmont Hotel in Makati City on Tuesday (June 20, 2023). Five German firms in the cosmetics and wellness sector are on a business mission to the country. (PNA photo by Kris Crismundo)
MANILA – The bilateral trade between the Philippines and Germany increased by 25.8 percent between 2021 and 2022.
In a conference in Makati City Tuesday, German Embassy in Manila Economic Counselor David Klebs said the two-way trade between the two countries reached 7.2 billion euros in 2022 from 5.8 billion euros in 2021.
"We see that economic relations are brightening up. Tremendously, we see the Philippine government is doing a lot to work together with our government... We had two visits of meetings of our economic ministers last year, and (Trade) Secretary (Alfredo) Pascual is coming to Germany," Klebs told reporters on the sidelines of the event.
Pascual is visiting Germany from July 3 to 5 as part of the Philippine delegation's three-week Europe Investment Roadshow.
Klebs said improving trade between the Philippines and Germany is supported by sectors of aviation, business process outsourcing, renewable energy (RE), and project planning for RE projects.
He added that the German government has also urged German companies to diversify their businesses in the Philippines.
Cosmetics, wellness industry
At least five German firms in the cosmetics and wellness industry are exploring business partners to tap the large Filipino market.
The visiting German companies here include NOBIS, Estatira Organic, MedSkin Solutions, Medical Beauty Research, and Skin Care Manufaktur.
Their business mission will end on June 23.
"Our chamber is happy to provide the stage for them to connect with key stakeholders in the Philippines, fostering valuable partnerships and exploring exciting business opportunities... The participation of these German companies highlights a charming potential in the cosmetics and wellness sectors in the Philippines," German-Philippine Chamber of Commerce and Industry executive director Christopher Zimmer said.
The business mission was also organized by the German Association of Personal Care and Detergents, and is part of the Market Development Program for German small and medium enterprises of the German Federal Ministry for Economic Affairs and Climate Action. (PNA)
