Economy

Germany Braces Ties with Latin America through Entrepreneurship

Germany strengthens its commitment to Latin American countries, reliable economic partners and major receivers of private German investments

July 14th, 2016
Iñaqui Gonzalez, CD News
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Germany celebrated its ties with Latin America during a ceremony held at the German Business Association for Latin America’s headquarter in Berlin, and highlighted the importance of the region, as well as the need to strengthen existing relationships in occasion of its first century anniversary.

"Relations with Latin America are something special, there are many shared values, interests, cultural and historical affinity, which create a basis for cooperation that we do not have with other parts of the world" said Frank Walter Steinmeier, German Foreign Minister.

The Business Association for Latin America (LAV, for its acronym in German) is an organization that gathers 400 German companies active in the region. It offers advice to Germany and Latin American countries to enhance trade relations and investments. In light of Latin America’s recent surge in economical power the Association is valued as a precious partner by the German government.

The organization provides support and expertise to companies in all industries to develop business in Latin America and the Caribbean and seeks to promote social, economic and political relations between Germany and the countries of the subcontinent.

Founded in 1916 by traders from the German port cities of Hamburg and Bremen, the association is a network of companies, with nearly 400 members representing the wide range of German business bouquet with interests in Latin America, from SMEs to multinationals like Siemens, BMW and BASF.

Each year the organization celebrates the Day of Latin America, a day of meetings and conferences that culminates with a gala dinner at the presence of Latin American leaders and guests of honor.

The president of the LAV, Bodo Liesenfeld, explained that German businesses are shifting more and more the focus from Germany to Latin America; henceforth, Germany and Latin America need to brace existing ties into a deeper and stronger relationship.

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