Inspiration for Habeck trip
German business sees great potential in Africa
12/04/2022 8:58 am
Experiences with China and Russia meanwhile make other trading partners appear much more attractive. Economics Minister Habeck travels to Africa. Great expectations of the German economy accompany him.
The German economy sees great potential in expanding trade with Africa. The President of the Foreign Trade Association BGA, Dirk Jandura, told the German Press Agency: “The African continent is the continent of opportunities for us. It is developing faster and more dynamically than all other regions of the world and therefore has great potential. Its importance as a reliable and long-term trading partner for Germany and Europe is increasing.”
Federal Economics Minister Robert Habeck embarks today on a multi-day trip to Namibia and South Africa. The Green politician is accompanied by a business delegation. The German industry even speaks of a “restart”.
Wolfgang Niedermark, member of the executive board of the Federation of German Industries, said: “Africa is rapidly gaining in strategic and economic importance for Germany.” The continent is crucial to reducing the pronounced dependency of individual sectors on Asian sales markets. “At the same time, it is the key to many raw materials and green hydrogen. This opens up new opportunities for cooperation on an equal footing.”
competition with China
Jandura also hopes to open up new markets. “We need more trading partners worldwide. African countries have many opportunities here to establish themselves as partners. However, it is necessary for us to focus our cooperation on development aid and on to sustainable economic promotion of the entire continent.” DIHK foreign trade chief Volker Treier told the dpa that in view of delivery bottlenecks, shortages of raw materials and protectionism, it is the order of the day for many companies to look for new suppliers, open up locations and work on markets. “Many African countries offer themselves as alternative suppliers of raw materials, which we need not least for the energy transition, climate protection and digitization.” “Green hydrogen” offers particular potential, said Treier.
In a project that has already started in Namibia, German participation should be strengthened. “However, such projects must be pushed ahead quickly and must not be overburdened with too much bureaucracy or reporting obligations. Because at the same time, China, for example, is expanding its business connections in Africa with flanking lure offers for the African partners.”