Germany Eyes Trade Diversification Amid Global Geopolitical Tensions

At the 18th Asia Pacific Conference, Germany's Vice-Chancellor Robert Habeck emphasized the necessity of diversifying trade policies amid geopolitical tensions with China and Russia. Highlighting India as a key partner, Habeck called for stronger bilateral relations and advocated for Germany as an attractive investment destination.

Germany's Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action, Robert Habeck, stressed the urgency of diversifying the nation's trade policies at the 18th Asia Pacific Conference of German Business in New Delhi. With geopolitical tensions escalating, particularly involving China and Russia, Habeck underscored the critical importance of reducing dependency on major partners.

Acknowledging India's paramount role in this strategic shift, Habeck remarked, "India stands among the most vital partners globally and regionally." He further expressed the necessity for a Free Trade Agreement between the EU and India, asserting his personal commitment to this goal.

Simultaneously, Habeck positioned Germany as an appealing destination for investment, citing the advantages of the single market. He highlighted Germany's historical benefits from globalization, particularly through trade and energy dealings with China and Russia, while noting the increasing complexity of global trade dynamics.

Echoing these sentiments, Roland Busch, Chairman of the Asia Pacific Committee of German Business and CEO of Siemens, emphasized the strategic focus on energy infrastructure, manufacturing, and local ecosystems to drive high-end manufacturing, sustainable industries, and the semiconductor sector in the ASEAN region.

(With inputs from agencies.)