German-American Economic Ties Strengthened by Machines
Germany Trade & Invest presents business opportunities at this year's International Manufacturing Technology Show
BERLIN and CHICAGO, September 9, 2012 /PRNewswire/ --
The German and American machinery industries are more interlocked than ever. Demand for German machines in the USA, Canada, and Mexico have grown by 25 percent since the beginning of the year, according to a recent report from Germany's VDMA industry association. And with 56 projects in 5 years, the USA is the number one investor country in Germany's machinery and equipment industry, a further sign of strong business ties. Germany Trade & Invest will have representatives at this year's IMTS in Chicago from September 10-15 to highlight business opportunities for international companies in Germany.
"The stable German market remains a key reason that American companies continue to invest in Germany. Sales last year approached the record levels seen before the economic crisis. Germany is the top exporter of machines worldwide, meaning that companies based here have quick access to important markets beyond Germany's borders," stated Emilio Brahmst, Germany Trade & Invest representative in Chicago
Germany is also the leading investor in the US machinery and equipment industry. Since 2007 German companies have invested millions in factories and sales offices across the USA. With 105 projects recorded, Germany comes in well ahead of Japan (65 projects), the UK (55 projects), or Canada (33 projects). In terms of FDI projects in Germany, the USA ranks ahead of China and Japan, with 48 and 40 new investment projects in Germany respectively.
"German and American machinery companies make natural partners. Both countries are at the cutting edge of groundbreaking engineering and technological developments. Both countries deliver high quality products to customers worldwide. We see enormous chances for the further integration of the industry," continued Brahmst.
Most of Germany's machines go to its EU neighbors, but growth rates in North America have helped the region strengthen its position as the most important market for German goods outside of Europe.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
SOURCE Germany Trade and Invest
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