The 700 Year Partnership
When British companies take their products to market in Germany they might not be aware that they are continuing a trade partnership that extends back seven centuries.The Hanseatic League of German towns began trading nationally and internationally in the late Middle Ages, and by 1320 they had a base in London at the site now occupied by Cannon Street railway station. This pioneering group is still remembered today with airline Lufthansa literally translated as “Air Hansa”.
As eager as British exporters are to make inroads with the “BRIC” economies of Brazil, Russia, India and China, we shouldn’t underestimate the importance of our longest standing partner. In 2011 Germany ranked second only to the United States as an importer of British goods, accounting for a total of just over A27.5 billion, up almost 20% year on year. Opportunities exist across all sectors, with key targets such as aerospace and automotive engineering particularly strong.
Germany’s aerospace industry is famously innovative and has an annual turnover of 25 billion euros. Expansion has been maintained since the 1990s with strong current growth in civil, military and space sectors. Major players with manufacturing sites in Germany include Airbus, Eurofighter and EADS …