Optimism around UK-Germany trade prospects
A key Anglo-German business leader believes both countries should work to boost trade links as the recovery from the coronavirus pandemic begins.
Dr Ulrich Hoppe (pictured), director general of the London-based German-British Chamber of Industry & Commerce, says there are now signs that trade between the two countries is returning to normal, despite coronavirus and the gloomy predictions prompted by Brexit.
He added that there were still great opportunities for both countries to trade with each other, and that his organisation was committed to building links between the UK and Germany.
Dr Hoppe said that his members were now more optimistic about bilateral trade between the two countries than they had been in autumn 2020, which he put down to 'distorted ' trade figures caused by stockpiling and the implementation of lockdown restrictions across Europe.
He said: “Whatever the aspirations of the UK government, this decline in trade with geographically close partners will not be easily compensated by trade with more far-flung regions.
“International trade generally facilitates efficiency gains for all sides involved and opportunities for growth are now somewhat reduced.
“Therefore, we at the German-British Chamber of Industry & Commerce would like to encourage British companies to continue to look at Germany and other European markets, because opportunities so close to home are still relatively easy to seize.
“The same is true for German companies looking at the UK, which continues to be an important market with 67 million consumers who hold German products in high esteem. ”
He said that a priority for both countries had to be the continuing fight against coronavirus, and he added that it was in both their best interests to ensure the roll-out of vaccines to poorer countries
He added: “Otherwise, borders will need to be kept closed for longer, with all the negative effects on economic growth which we must address in addition to the many other challenges in this world, ranging from climate change to migration.
“Germany will see an election later this year with a new Chancellor heading the next government. A modernising agenda, especially with regard to digitalisation, is urgently needed.
“The industrial sector has largely embraced the new digital world, but public administration and some in the service sector lag far behind. The coronavirus pandemic has provided a push in this direction, but has also brought shortcomings to light.
“In my opinion, Germany could well benefit from looking at a number of best practice examples from the UK.
“Over the coming months and years, the Chamber will continue to build linkages over the Channel as, despite Brexit having made the Channel a bit 'deeper ' and thus sometimes more challenging to cross, there are many areas of potentially fruitful cooperation, which both sides should continue to explore. ”