Germany has exceeded France as Portugal’s second largest commercial partner, and the undecided ones go to the polls this Sunday with one certainty: “All parties have measures to stimulate the economy”, which should benefit both the German and Portuguese industry.
“I am sure that whatever the result of the elections in Germany, there will be a positive impact on the Portuguese economy.”
The words are from the executive director of the Luso-German Chamber of Commerce and Industry (CCILHA), Thorsten Kötschauwhich explains what the tendency is that the German economy recovers and, with it, trade between the two countries is driven.
In 2024 to Germany became the second largest commercial partner in Portugalsurpassing France. CCIILA believes that, regardless of the composition of the next German government – the country – economic recovery will be a priority for all parties.
Economic stimulus measures, which include the reduction of bureaucracy and the acceleration of new project licensing processes, are expected from anywhere in the spectrum, and can directly or indirectly benefit both the German and the Portuguese industry.
“Germany has been since 2023 in a very complicated economic situation and the decisive theme of the elections is the economy,” says Kötschau: “All parties have measures to stimulate the economywe are safe that any new government will give this stimulus. ”
The close collaboration between the two countries will be even more evident in sectors such as industry and services, with many German companies seeking to increase the number of hiring from Portuguese companies. In addition, Portugal’s attractiveness as an investment destination has been growing, with the growing interest of small and medium German companies in establishing partnerships or even starting operations in the country.
Recently, a delegation of German entrepreneurs visited Portugal, resulting in more than 90 meetings between companies in both countries, with extremely positive feedback from German investors, the CEO to Business notes.
Growth in Portuguese exports to Germany reflects this impulse. In 2024, exports of Portuguese goods to Germany reached 79.3 billion euroshighlighting the machines and appliances, vehicles and medicineswho suffered a 330% shot in the exported value.
The elections have been running since this morning, with many undecided voters: one in five did not know yet, this Saturday, who to vote for.
