Cooperation with Latin America is top priority for German industry

Thomas Schmall, Member of the Group Board of Management of Volkswagen AG and CEO of Volkswagen Group Components, was elected yesterday as the successor to Gunnar Kilian as Chairman of the Latin American Committee of German Business (LADW). Schmall, who has worked in the region for many years, said on the occasion of his election:

“Latin America is and remains a key market for German business. German companies generate almost €200 billion in sales there every year. We are at a geopolitical turning point that also offers new opportunities for both regions – Latin America and Europe. Global and regional supply chains, investments, and partnerships are being reorganized worldwide. Germany and Europe should not leave this region to their competitors. A strong local presence and sustained investment are essential for us to remain a strategic partner and key player in Latin America.

The EU-Mercosur Agreement opens up new opportunities for Europe’s engagement in Latin America – now it is all about ratification and implementation. Politics and business must work together to translate the agreement into investment, value creation, and growth on both sides of the Atlantic.”

On Thursday, the following committee members were elected as Vice-Chairs of LADW:

• • Ulrich Dietz, Chairman of the Administrative Board of GFT Technologies SE,
  • Michael Heinz (until April 30, 2026) / Dr. Mary Kurian (from May 1, 2026), Member of the Board of Executive Directors of BASF SE,
  • Tim Oliver Holt, Member of the Executive Board of Siemens Energy AG,
  • Rodrigo Santos, Member of the Board of Management of Bayer AG, and
  • Judith Wiese, Chief People and Sustainability Officer (CPSO) and Member of the Managing Board of Siemens AG.

The LADW sees the strong footprint of German companies in Latin America as a clear competitive advantage for the further expansion of relations. With around 740,000 employees, they already generate around €200 billion in sales per year in the region. By comparison, the figure is €412 billion in China, €59 billion in India, and €37 billion in Africa.