Click here for the German version of the press release
Berlin, May 6, 2019 - AmCham Germany welcomes the initiative from Federal Minister of Economics Peter Altmaier to develop a national industrial strategy. However, this strategy should consequently be oriented towards competitiveness rather than state market intervention and protectionism. An industrial strategy for Germany should focus more on the transatlantic innovation and economic partnership between Germany and the USA, which together amount to one third of global economic output.
We depend on close cooperation between the USA and Europe
"We can only secure Germany's position as a leading industrial nation if we establish a dynamic environment for innovation and seize the opportunities of digital transformation for business," says AmCham Germany President Frank Sportolari. The shared core values between Europe and the USA are a strategic and important factor in global competition. "We depend on close cooperation between the USA and Europe in order to ensure that other nations with values differing from our own do not assert their economic hegemony," Sportolari continued.
AmCham Germany discusses measures for the Industriestrategie with Peter Altmaier and other business associations
Upon invitation of the Federal Minister of Economics Peter Altmaier, CEOs and representatives of business associations will discuss measures for the National Industrial Strategy 2030 on May 6. Dr. Wolfgang Dierker will take part in the congress on behalf of AmCham Germany President Frank Sportolari. Dierker is a member of the AmCham Germany taskforce in charge of writing the position paper and oversees the Chamber's advocacy work.
An innovation- and industry-friendly economic policy must be European and transatlantic. Since the economic success of Germany and Europe is founded on open markets as well as free and rules-based trade, AmCham Germany positions itself against the increasing protectionism of other states and also calls upon Germany not to close off its own market as a reaction. Instead, Germany and Europe should be pioneers for free trade and negotiate a transatlantic free trade agreement with the USA that will generate new economic growth on both sides of the Atlantic.
AmCham Germany only views economic state intervention in the name of a national industrial policy as justifiable when there are clear and well-founded reasons, overarching and narrowly limited goals and also a transparent and consistent use of resources. Instead, a national industrial policy should concentrate primarily on improving the political framework conditions for businesses. These include, for example, strengthening the European Single Market, free and rules-based trade, modern infrastructure and reducing the tax burden for companies.
Click here for the complete AmCham Germany position paper on the National Industry Strategy (Industriestrategie) in German or for the position paper in English
AmCham Germany Press Contact:
Katharina-Luise Kittler
Manager, Communications
American Chamber of Commerce in Germany e.V.
kkittler@amcham.de +49 030 2130056 - 34
