President Marcos and German President Frank-Walter Steinmeier both agreed that the new agreement between the United States and Iran, which include the reopening of the Strait of Hormuz, is a good step towards peace.

Both leaders shared the same position over the key development in the Middle East conflict during a joint press conference at the Malacañan Palace on Tuesday, June 16.

"Every step into the direction of ending the fighting is a right step," Steinmeier said when sought for reaction on the US-Iran agreement.

Marcos seconded, saying "Of course, I would like to agree with the observation of President Steinmeier, any step towards peace is a good step."

Marcos is hopeful that the agreement will immediately put an end to the war and reopen the Hormuz Strait.

"At least on the basis of that agreement, that the fighting will immediately stop, the blockade of the United States will be withdrawn, and the Strait of Hormuz will be opened and the freedom of navigation will once again return to the Strait of Hormuz. That is what we have been hoping for since the day after the war started," Marcos said.

The two heads of State also expressed hopes that an actual agreement will be made, following the new development.

"We, both therefore hope that we will see an actual agreement, not only a signing of a document, but that we will see and ending of the fighting and an ending to the blockade of the Strait of Hormuz. It is urgently necessary for the Strait of Hormuz to be opened," Steinmeier said.

Both leaders also believed that while an agreement has been reached to end the fighting and reopen the Strait of Hormuz, the impacts the war caused will be felt by both countries for a while.

"We talked about this earlier, this is not only about abstract economic figures with regards to the Strait of Hormuz. It is the lives of hundreds of people that are affected--the food prices, the prices of fertilizers," Steinmeier said.

"And therefore both of us hope that this is a step towards the ending the fighting and towards the opening of Hormuz and peaceful talks with the objective of bringing peace in the region," the German leader added.

Marcos, on the other hand, said the Philippines and Germany might have affected differently, but "we are both feeling that there is very much a crisis."

"And the effects on Germany and the Philippines are reflected in every country around the world. This kind of instability makes life difficult for our own people and therefore, we are awake with bated breath the actual finalization of that agreement," Marcos said, stressing that it is some of the best news they could hope for, "if it indeed comes to fruition."

Marcos, however, noted that due to the enormity of the instability the war has caused, "it is inevitable that it will take some time for us to adjust back to what will be the new normal."

"Of course, we are always cautiously optimistic. We have heard these proclamations before and they have not come true, but we're hoping that this one is the one that will come true," he stated.

"We will start to once again bring our economies to normal state and be able to support our people properly without suffering the vagaries of price rises that come with a, such a petroleum crisis," he added.

The German President is in Manila for a state visit. He held a bilateral meeting with Marcos before addressing the media in a joint press briefing.