Germany and African Countries Seek to Strengthen Trade and Investment Ties at First Ever

| January 18, 2017

Germany-Africa Business Forum

Africa is a priority for German government in 2017 as it holds G20 presidency

There is much consensus for building trade relations; Africa is world's fastest

growing region and German companies need to find new markets

This year, Germany will host the first ever privately held event exclusively

dedicated to strengthening trade and investment ties between Germany and the African

continent. The Germany-Africa Business Forum (www.GermanyAfrica.com), which will take

place March 23, 2017 in Frankfurt, capitalizes on a wave of interest taken by the German

government and companies to increase their engagement with African countries. Last

October, German Chancellor made a 3-day visit to Mali, Niger and Ethiopia, vowing that

Africa would be a major focal point of its G20 presidency, which began in December 2016.

Even with annual trade with Africa of $60 billion, Germany has lagged behind

other countries that have done more to seize trade opportunities. The Germany-Africa

Business Forum will seek to familiarize German companies with the continent and diversify

their investment base. Out of more than $10 billion in German investments on the

continent each year, 90 percent is with just three countries � South Africa, Nigeria and

Algeria.

There is a consensus that Africa remains ripe for German Mittelstand companies

are already showing an interest in places where their skills and technology can bring

value,rdquo; said Charles Huber, MP and Member of the Committee on Economic Cooperation

and Development, Republic of Germany, a keynote speaker at the forum. Germany's need to

expand to new markets coincides with increasingly healthy economic indicators in many

African countries, including a growing middle class, more political stability and an

appetite to develop manufacturingdomestically. What Africa appreciate is in particular

German work ethic, precision and reliability.rdquo;

There is a consensus that Africa remains ripe for German investment, from small-

startups to industrial giants spanning the economic spectrum. German Mittelstand

companies are already showing an interest in places where their skills and technology can

bring value. Germany shows a strong need to expand to new markets, with companies doing

just 2 percent of their business in Africa.

The time to strengthen German-African trade and investment connections has never

been greater. Six of the world's 10 fastest growing economies are in Africa and the

continent is projected to be the world's fastest growing region until 2040. The Germany-

Africa Business Forum seeks to bridge the gaprdquo; by facilitating dialogue, business

dealings and dynamic commercial and political interchange.

There is already a strong foundation of trade relations between Nigeria and

Germany and an even stronger rationale to expand upon them,rdquo; said the Honourable

Okechukwu E. Enelamah, Minister of Industry, Trade amp; Investment of Nigeria, who will

be presenting at the event. Nigeria is Africa's largest economy, one of its most stable

democracies and boasts a business-friendly climate. And whether it is construction,

manufacturing or technology, German companies carry a legacy of innovation and know-how

that can deliver tremendous value for both sides.

Already confirmed as speakers for the Germany-Africa Business Forum include

Charles Huber, MP and Member of the Committee on Economic Cooperation and Development,

Republic of Germany; Okechukwu E. Enelamah, Honourable Minister of Industry, Trade amp;

Investment of Nigeria; H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons

of Equatorial Guinea; and Carole Kariuki, CEO of the Kenya Private Sector Alliance.

For more information, please visit www.GermanyAfrica.com.

Source: Germany-Africa Business Forum.

Category: Governance

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