EU investors remain bullish on Philippines

MANILA, Philippines — European Union (EU) Ambassador Franz Jessen said yesterday political and trade relations between the EU and the Philippines “are going very well,” despite President Duterte’s recent statements against the EU.

“You may not be aware of it, but Philippine exports to the European Union has increased by 34 percent,” Jessen said in a press conference during the inauguration here yesterday of the new five-story building of the Mercedez Bena Group Services Philippines Inc. (MBGSP), a wholly owned subsidiary of Germany’s Daimler AG.

Jessen said the EU investors are unaffected by negative statements from the President, as he noted that they have always been “driven by business interests, not political statements.”

“I think we have seen enough things going on in the country in the last 18 months that are very interesting,” he said, citing the expension here of MBGSP on top of its operations in Cebu City.

“They are not diversifying to make sure their operations continue no matter what hurricane hits outside the Philippines and they are doing it within the Philippines,” he said.

“I can imagine the company had different options outside of the Philippines but they chose to be here,” he said.

He said the investors find that the adjustment process in the Philippines “very peaceful and short” and that Filipinos share similar values with EU countries.

Jessen decribed the Philippines as a “medium sized power” and with an economy similar to a medium sized member of the EU.

Only last month, Duterte threatened to expel EU ambassadors within 24 hours, for allegedly threatening to expel the Philippines from the United Nations amid his drug war.

Malacañang later said the statement were mere “expression of outrage” to criticisms by a small group of European lawmakers and aides who visited Manila and expressed objections to Duterte’s war against illegal drugs.