Latin America’s importance for the German economy is growing

“Latin America is and remains an essential building block in Germany’s diversification strategy. And we want to expand this and also push ahead with trade agreements – such as Mercosur,” emphasized LADW Chairman Gunnar Kilian yesterday at the annual meeting of LADW members, for which business leaders gathered in Berlin. Against this background, the strengthening of cooperation with the region is essential.

At the subsequent fireside evening, the exchange with the ambassadors of the region and high-ranking representatives of the Federal Government and the Bundestag continued.

In conversation with the evening’s guest speaker, Sarah Ryglewski, Minister of State to the German Chancellor, it becomes clear that the region has also become a top priority for German politics. Thanks to the travel offensive by members of the government, Germany has a greater political presence in Latin America than ever before. This creates a valuable economic policy basis for more economic engagement.

Latin America is – despite all the current challenges – an attractive market and business location for German companies. More than 650 million people live in this region – on around 20 million square kilometers. And it is one of the most important global suppliers of raw materials for industry. Around 50 percent of the world’s lithium, silver and gold deposits are located here.

The Latin America momentum must now be used to advance complex issues such as the EU-Mercosur agreement but also concrete projects, for example in the field of digitalization or decarbonization, which will boost growth and investment in this region.