Germany’s Federal Minister of Economic Affairs and Climate Action, Robert Habeck, underlined the need of a strong presence of the German economy in the entire Asia-Pacific region, emphasising that it’s a decisive factor for the global competitiveness of the German economy.
At the 18th Asia-Pacific Conference, Vice Chancellor and Federal Minister for Economic Affairs and Climate Protection, Dr. Robert Habeck, stated, “The Indo-Pacific is the most dynamic economic area in the world. Complex geopolitical challenges are developing and unfolding there as if in fast motion. It is also the most populous, most heterogeneous, and most diverse region in the world. The Indo-Pacific is therefore of immense geostrategic importance for Germany and the EU. At the hubs of the global value chains, there are immense opportunities for the German economy to help shape the world and the economy of tomorrow. This is about ‘more’ in the best sense of smart diversification: more partners, more trade, more exchange, more cooperation, more resilience.”
We would like to invite more Indians to Germany to contribute into our workforce as India is the first country to have digitised the Visa system but we don’t want to steal India’s talent, hence we urge the Indian government to bring more Germans to India to work: German minister pic.twitter.com/t9EgCstHnk
— Simran (@SimranBabbar_05) October 25, 2024
The 18th Asia-Pacific Conference of the German Economy (APK) is taking place this year from October 24 to 26, 2024, in New Delhi.
Roland Busch, APA Chairman and CEO of Siemens AG, and Robert Habeck will jointly chair the conference.
Asia -Pacific Is Key Region for German Companies To Trade
The comments by German ministers came at a time when a special analysis of the AHK World Business Outlook by the Chamber of Commerce and Industry (DIHK) pointed to a complex picture of German companies on-site.
The current business situation for German companies in the Asia-Pacific region (excluding Greater China) reached a historic low in autumn 2024. One in three companies (35 percent) rates their current business situation as good, while 18 percent rate it as poor.
Only during the 2020 pandemic was the situation assessed more negatively by local companies. This is the result of a special analysis for the Asia-Pacific region of the AHK World Business Outlook (WBO), a biannual survey conducted by the German Chambers of Commerce Abroad (AHKs), in which around 820 member companies in the Asia-Pacific and Greater China region took part. Greater China encompasses the People’s Republic of China, Hong Kong, and Taiwan, which form a single economic entity as closely linked markets.
India remains the driving force behind investments in the Asia-Pacific region. Fifty-one percent of local companies intend to increase their investments in the coming twelve months. This makes India a major attraction for foreign investment, including from Germany, just behind the Philippines (52 percent). In the Philippines, 58 percent of companies rate their current business situation as good (up from 50 percent compared to the previous year), while in Malaysia, the figure is 54 percent (up from 39 percent compared to the previous year).
In both countries, this marks a significant improvement over last year. By contrast, investment intentions are falling sharply in Greater China, with just over one in four companies (28 percent) in mainland China reducing their investment intentions for the coming year.
Although business conditions there have improved slightly, companies’ investment plans are significantly lower than a year ago. Diversification from China to other Asia-Pacific markets continues.
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