By THEPHILBIZNEWS STAFF
The German-Philippine Chamber of Commerce and Industry (GPCCI) welcomed today, August 22, the move to establish the Joint Economic Commission (JEC) that will oversee the strengthening of economic partnerships between the Philippines and Germany.
GPCCI, in a statement sent to THEPHILBIZNEWS, said the signing of the Joint Declaration of Intent (JDoI) to establish the JEC last Tuesday, August 20, fortifies the commitment of both the Philippines and Germany to intensify their bilateral trade cooperation.
It was confirmed that both delegations under the leaderships of Philippine Trade Undersecretary Ceferino Rodolfo and German Parliamentary State Secretary Thomas Bareiss signed the declaration 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 GPCCI President Tristan Arwen “Bobbit” Loveres. “The signing of JDoI is a remarkable signal on the partnership and we are looking forward to the JEC.”
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 (roughly P389 billion) in 2018.