Important instruments of bilateral economic relations include the joint economic commissions and cooperation councils, and the working groups on commerce and energy of the binational commissions agreed on by the governments of the partner countries. In this context, “joint” signifies that representatives both of the governments and of the business community (business associations, companies) participate in the regular events. The bodies work to promote trade in goods between the economic partners, to intensify mutual investment relations, and to boost technology transfer.
Pro! Africa initiative An equitable partnership on an equal footing
One of two focal areas for was Africa, a continent of opportunities. The Pro! Africa initiative presented by the Federal Ministry for Economic Affairs and Energy on is to support economic development in Africa, strengthen sustainable growth, and pave the way for greater cooperation and private-sector involvement. To this end, Germany’s tried and tested instruments to promote foreign trade and investment will be deployed, political cooperation deepened, and successful funding programmes opened up to Africa. A total of €100 millions is to be made available for this purpose.
Business councils and business forums
In addition to the joint economic commissions and cooperation councils agreed between the governments, there are also many bodies organised independently by the business community. Many of these take the form of business councils or business forums (cf. ).
High-level advice for policymakers commissioned by Economic Affairs Ministry
German advisory teams are working on behalf of the Economic Affairs Ministry in Ukraine, Moldova, Belarus and Georgia to draft specific recommendations for action by high-level decision-makers. Their primary task is to provide continuous support and guidance to economic reform processes in these countries. Their work is demand-oriented, they collaborate closely with leading national research institutions and international organisations, and they provide unbiased analyses of current economic policy problems. The main focus of the high-level advice for policymakers is on monetary and exchange rate policy, debt management and the prospects for the development of the private sector, and particularly of SMEs. Since 2007, the project’s mandate has been expanded to included targeted promotion of foreign trade and investment and wide-ranging public relations work.