Federal Economic Affairs Minister Peter Altmaier (on the right) and Australian Trade Minister Dan Tehan (on the left)

Federal Economic Affairs Minister Peter Altmaier (on the right) and Australian Trade Minister Dan Tehan (on the left)

© BMWi/Andreas Mertens

In a virtual meeting, Federal Economic Affairs Minister Peter Altmaier and Australian Trade Minister Dan Tehan discussed key prospects in German-Australian economic relations and the latest developments in global trade policy.

Said Economic Affairs Minister Altmaier: “Our two countries are still tackling the COVID-19 pandemic (in German). But as we seek to overcome this current crisis, we must not lose sight of important forward-looking issues. This is why I am delighted to have had the opportunity to discuss potential future fields of cooperation with the incoming Australian Minister for Trade. Important points on the agenda included hydrogen and Industrie 4.0. We also discussed trade policy, as Australia is an important partner for us in the Indo-Pacific region. We want to strengthen our economic relations and make progress in this field.”

The trade volume between Germany and Australia has seen a positive expansion in recent years, but this development was interrupted by the pandemic. Our bilateral goods trade was worth €11.38 billion in 2020 (GER imports from AUS: c. €2.9 billion, exports: c. €8.48 billion). This compares to a trade volume of €12.2 billion in 2019.