The Philippines will certainly attract more job-creating European investments if it continues to open up its economy, said EU Ambassador Guy Ledoux.
“Europe is already very present in this country but if the Philippines continues to open up its economy it will certainly attract much more job-creating European investments,” said Ledoux who led a group of ambassadors from various European countries during a recent visit at the high-tech facility of Lufthansa Technik Philippines.
The Partnership and Cooperation Agreement (PCA), which was signed in June 2011, was supposed to trigger the start of negotiations for the Philippines-EU bilateral FTA, but the Philippines said it was not yet ready as wider consultations with stakeholders have yet to be conducted.
“Lufthansa Technik Philippines is a very good example of European investment creating quality jobs for Filipinos in their own country. But it need not be the end. This could be just the beginning,” said Ledoux, head of the EU Delegation.
“Our visit here today is not an isolated event. It follows on from several visits to the Philippines from high profile Europeans including by the French Prime Minister, the German Foreign Minister, other prominent Ministers from the Czech Republic, Italy, Ireland and the UK as well as a delegation from the European Parliament. The red line through many of these visits was investment,” he added.
The visiting EU ambassadors came from the embassies of Belgium, the Czech Republic, Germany, France and Romania , and other diplomats from Spain and the UK.
Since year 2000, Lufthansa Technik Philippines has been providing a broad range of maintenance, repair and overhaul services to some of the most reputable airlines in the world. LTP specializes in providing support to the Airbus aircraft type, and has already completed a total of more than 400 base maintenance checks for over 30 international and local airlines.
The Manila-based facility has recently added the world’s largest and most technologically advanced aircraft, the Airbus A380, into its roster of capabilities. This aircraft type is now being supported inside a dedicated hangar which was inaugurated in 2012.
While OFWs are making a much appreciated contribution in different sectors in Europe, the EU supports the Aquino administration’s ambition to create high quality jobs for Filipinos in their own country. The continued expansion of Lufthansa Technik Philippines employing 2,500 highly qualified Filipinos is a practical expression of this support.
German Ambassador Joachim Heidorn mentioned that “Every single job for Filipinos created by European investment is very welcome. The well-paid jobs for highly-educated Filipinos offered by European companies like Lufthansa Technik are a particular source of pride.”
European investments in high tech industries are the clearest recognition of the skills and talents of Filipino workers who have shown themselves able to meet the challenges posed by some of the most technically sophisticated industries, the EU ambassadors said.
The EU claimed they are already the largest investor in the Philippines in terms of stocks. Last year, the EU was also the largest source of approved FDI accounting for a full 40% of the total.
Likewise, Filipino investors have cumulatively invested some €1.7 billion in the EU in 2010, which indicates that about 1/3 of Philippines’overseas direct investments are made in the EU.
EU-Philippines trade also continues to expand, with a continuous trade surplus for the Philippines: In 2011 alone, EU-Philippines trade in goods was worth over €9 billion, with over €5 billion in Philippines’ exports to he EU (and therefore a trade surplus of €1.1 billion).

Source: Manila Bulletin - April 21, 2013