Under Secretary Lago Advances U.S.-Germany Commercial Ties During Official Visit
FOR IMMEDIATE RELEASE
November 21, 2022
Contact: Office of Public Affairs
WASHINGTON – Last week, Under Secretary of Commerce for International Trade Marisa Lago concluded her first official visit to Germany (Nov. 14-17), where she engaged with her government and industry counterparts to deepen U.S.-German commercial and economic ties, reinforce Germany’s key role in fostering Transatlantic cooperation, and support U.S. exhibitors and economic development organizations at two leading trade shows in Düsseldorf and Frankfurt.
“My visit to Germany came at a vital time for transatlantic cooperation. The United States is committed to strengthening our already robust commercial and economic ties with Germany—from trade and investment flows that create jobs in both countries, to strategic cooperation to ensure our mutual economic security” said Under Secretary Lago. “This trip was an important opportunity to engage with my counterparts on how we can drive progress in areas that will define the next generation economy, as well hear from U.S. and German industry on how we can leverage our respective strengths to bolster growth and prosperity on both sides of the Atlantic.”
Over the course of her visit, Under Secretary Lago met with German officials, including Federal Ministry for Economic Affairs and Climate Action State Secretary Udo Philipp and Parliamentary State Secretary Franziska Brantner to share views on the U.S.-Germany commercial relationship and discuss opportunities for increased cooperation in key areas such as supply chains, energy and green technology, countering coercive economic influence, apprenticeships, and workforce development. During these bilateral meetings, Under Secretary Lago and her counterparts also identified potential focus areas for future policy discussions through the U.S.-Germany Informal Commercial Exchange Talks.
In Frankfurt, the Under Secretary delivered keynote remarks at the Transatlantic Business Conference, outlining her perspective on those issues and the bilateral relationship to some 200 senior U.S. and German executives. While at the Conference, Under Secretary Lago also met with senior businesswomen to promote the ITA-AmCham EU EMPOWER HER initiative to advance women’s economic empowerment and entrepreneurship. In addition, she met with European Central Bank President Christine Lagarde to discuss the Transatlantic economic, business, and policy environment, as well as their shared interest in advancing women’s economic opportunity and inclusion.
Throughout her visit, the Under Secretary met with several industry representatives, including Dr. Siegfried Russwurm, President of the Federation of German Industries; member companies of the Association of German Chambers of Industry and Commerce; and AmCham Germany’s President Simone Menne and Executive Board. In each of her meetings, she welcomed the opportunity to hear from industry on how the Commerce Department can best support U.S. companies and Transatlantic commerce. She also toured the Frankfurt Central Data Exchange and met with the leadership of the center, where she discussed the critical importance of Transatlantic data flows. During a visit to Bayer AG, she learned about their apprenticeship models and how they might be transferred and implemented in the United States.
At the Medica Trade Fair in Düsseldorf and Formnext Trade Fair in Frankfurt, the Under Secretary championed U.S. companies in the healthcare and additive manufacturing sectors, highlighting the innovation and leadership of the participating companies and the importance of the Commerce Department’s active participation and support for trade shows across Germany.
About the International Trade Administration
The International Trade Administration (ITA) at the U.S. Department of Commerce is the premier resource for American companies competing in the global marketplace. ITA has more than 2,200 employees assisting U.S. exporters in more than 100 U.S. cities and 80 markets worldwide. For more information on ITA visit www.trade.gov.