As China loses its importance as a destination for German exports, the euro zone’s biggest economy is looking for new markets for its products and services in Latin America and the Caribbean.

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    1 year ago

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    SANTIAGO DE COMPOSTELA, Spain, Sept 15 (Reuters) - As China loses its importance as a destination for German exports, the euro zone’s biggest economy is looking for new markets for its products and services in Latin America and the Caribbean.

    “I would welcome that our meeting sends a signal that we can make rapid progress on the free trade agreement between the European Union and Mercosur,” Lindner said.

    While Chinese policymakers try to revive growth, Latin America’s annual gross domestic product (GDP) has more than quintupled over the past thirty years, reaching $6.25 billion in 2022.

    Latin America is high on the agenda," said Volker Treier, chief executive of foreign trade at the German Chamber of Commerce and Industry DIHK.

    “All sides have a lot of interest in the agreement, and they should be now ready for a compromise,” said Uta Knott, Senior Manager for Latin America at the German industry association BDI.

    She added that while Latin American countries can offer cheap hydrogen and renewable energies to Germany, South America is very interested in German technologies.


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