America's Next Berliner

Jun 17, 2013, 08:00 ET from Germany Trade and Invest

BERLIN, June 17, 2013 /PRNewswire/ --

Barack Obama will speak in front of the Brandenburg Gate on Wednesday, nigh on 50 years to the day since John F. Kennedy proclaimed 'Ich bin ein Berliner' to 120,000 rapturous locals. Mr. Obama will likely use a bit of 'then and now' rhetoric, where there are more similarities than you'd think.

If Germany was a strategic political partner then, it is undoubtedly a strategic economic partner for the USA now, with both countries emerging from recession, Germany's strong economic position in Europe complementing America's globally and free trade between Europe and the USA up for discussion. Germany remains a key player for the USA.

The USA was Germany's top source of foreign direct investment (FDI) in 2012 with 133 projects, and was Germany's second-highest source of export orders: EUR 86,831m, according to Germany Trade and Invest, Germany's foreign trade and inward investment agency. 24% of all USA FDI projects between 2007 and 2011 were in Germany, with ICT, and business and financial services the main sectors. The USA is Germany's top FDI employer with some 763,000 jobs.

Flowing the other way, the USA is second in terms of outward investment from Germany, while German imports from America were valued at EUR 50,592m in 2012.

Mr. Obama will speak about bonds between the two countries and the importance of the transatlantic alliance.  

"Those bonds are every bit as economic as they are political," said Dr. Benno Bunse, CEO of Germany Trade and Invest.

"Germany is a strong economy and an attractive place to invest in Europe, which makes it a key market for the USA. We look forward to continuing this excellent economic relationship."

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.

Germany Trade & Invest
Andreas Bilfinger
T: +49(0)30-200099-173
F: +49(0)30-200099-511

SOURCE Germany Trade and Invest