Aquino — USD 2.38 Billion European Investments to generate 55,500 jobs for Filipinos

Angela Merkel the German Chancellor, impressed the “dynamic growth” of Philippines, and proposed a free trade arrangement between two countries during the  meeting with President Aquino, saying that this could further increase the bilateral trade to USD 4.7 billion.

The president’s visit to Berlin coincided with the 60th anniversary of diplomatic ties between Philippines and Germany.

After the president’s four—nation European swing, Aquino scheduled to travel in United States. But the long, grueling and costly trip to Europe was worth an effort, As President Aquino able to secure USD 2.38 billion worth of investments from various European firms.

European investments that President said at least USD908 million has been committed by investors while USD1.47 billion considered prospective investments.

“19 companies in total that we talked to between government side and business entities, they all praised the economic performance of the Philippines,” this was said by the president in an interview.

Aquino championed the country’s economic recovery to attract investors in Europe. European investments expected to generate more than 55,500 jobs for Filipinos.