German economic operators are stepping up their engagement with South and Central America, in part because of the restrictive trade policy of the United States.
"The interest of German companies in Latin America is growing," said Volker Treier, foreign business chief of the Association of German Chambers of Commerce and Industry (DIHK).
"It seems that the protectionism-oriented trade policy of the United States is even useful in this regard: many Latin American countries are now actively seeking new partnerships on the world markets," Treier told dpa ahead of a Latin America conference held on Tuesday in Berlin.
A key reason for the increased engagement by German companies is the economic recovery that is starting to get underway in Brazil, according to DIHK.
DIHK expects exports by German companies to Latin America to grow by more than 5 per cent this year. The annual export volume would thereby increase from 35.5 billion to 38 billion euros.
"In these otherwise rather difficult times, that is above-average growth," Treier said.
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