An opportunity for sustainable growth and trade
Realising the energy transition and achieving the Paris climate targets is not only a global challenge, but also fundamental when it comes to ensuring sustainable economic development and expanding reliable trade relations.
Success in this area hinges on the ability of global stakeholders to systematically increase the proportion of energy generated from renewables and boost energy efficiency. With this in mind, the international community set itself groundbreaking goals for achieving the Paris climate targets when it came together at COP 28 in December 2023. These include doubling energy efficiency and tripling capacity for using renewable energy sources, both by 2030.
It is clear that it will be essential to make the most of sustainable energy sources and diversify suppliers of raw materials and energy in order to attain the COP 28 goals.
A reliable energy supply is needed to enable industrial growth and the emergence of new markets. Developing capacities for renewable energy use has the potential to expand trade networks and unlock import and export opportunities for Germany and its partner countries.
Strong trade relationships and cooperation as partners at governmental level are key in this context. As a country with limited access to energy sources, Germany is dependent on energy and raw-material imports to operate its renewable energy technologies. At the same time, its experience and expertise in the area of energy and climate offer tremendous potential for new and innovative solutions and for employing additional experts.
Trade partnerships and economic opportunities based on country-specific approaches
Each CEP partner country faces its own unique context and challenges – from fossil fuel dependence to regulatory frameworks – that influence the transformation process in many different ways. This is why context- and country-specific approaches are crucial. Individual strategies strengthen national energy agendas here. Partner countries engage in bilateral dialogue, defining their strategic guidelines at governmental level to ensure that the transition to renewable energy technologies is adapted to national circumstances. At the same time, this dialogue leads to joint initiatives for driving renewable technology transfer, promoting sustainable investment and improving the energy supply security of both nations.
This is where Germany’s dependence on imports can be leveraged as an opportunity to generate incentives for sustainable, long-term cooperation with the CEP countries and ensure lasting supply security.
This promotes trade between Germany and its partner countries and helps to bring about mutual economic growth. German Chambers of Commerce Abroad (AHKs), with their knowledge of local markets and large network of German and local companies, play a significant role in deepening cooperation with the CEP countries.
With 150 locations in 93 countries, the AHKs are key actors in building bridges between German enterprises and partner-country companies. Cooperation between the CEPs and the AHKs generates valuable synergies that give rise to strong networks, drive investment projects and unlock business opportunities for companies from Germany and its partner countries.
Joining forces for the global energy transition Â
The key to a successful energy transition is ensuring that all relevant political and economic actors work together in a spirit of trust, as it is essential to adopt a holistic perspective. In this context, the bilateral CEPs serve as an opportunity platform, promoting political dialogue, providing prospects and setting the right trajectory for both Germany and its partner countries. They bring together the interests of German and local companies, improve investment conditions and facilitate market access and stabilisation.
The activities that are carried out in Germany and its partner countries do not just have an impact at bilateral level. In many cases they also kick off and drive multilateral initiatives to accelerate global progress and the implementation of international (climate) agreements.
