DTI Invites German Firms to Explore Biz 0pportunities in PHL

The Department of Trade and Industry (DTI) has promoted doing business in the Philippines among German companies during the 97th OAV Liebesmahl or the Asia Pacific Communal Banquet organized by the German-Asia Pacific Business Organization (OAV).

In a statement Wednesday, DTI Undersecretary Nora Terrado said they presented investment opportunities in the Philippines to 50 German companies last week.

DTI’s roundtable discussion with the potential German investors was co-organized by the Philippine Trade and Investments Center in Berlin, OAV, and DEG or the German Investment Corporation.

The country’s participation to the OAV Liebesmahl served as an avenue to attract German companies to invest in the Philippines.

The event was attended by more than 300 executives both from public and private sectors.

The OAV Leibesmahl is a platform to promote stronger bilateral economic relationships between Germany and Asia Pacific countries.

In 2016, Germany share 2.2 percent of the total foreign investments in the country’s major investment promotion agencies.

Approved investments from Germany last year reached PHP4.9 billion, which increased by 60 percent from PHP3.1 billion in 2015.

In terms of trade, Germany is the country’s 11th trading partner with bilateral trade amounting to USD 4.2 billion.

Germany is also the 6th export destination for Philippine products in 2016. (PNA) KMC