First of all, I would like to wish everyone in the German-British business community a belated Happy New Year and all the best for 2024. Economically and politically, this year is going to be an uncertain one for us all. Not only will the UK have a new government by the end of it, but more importantly the US too. Geopolitically and globally, the US election is the truly important one and it will, whatever the outcome, remind us in Europe that we must finally get our act together and take more responsibility for our own political and economic prosperity. Whilst the speed at which we will have to transform depends on the election’s outcome, it is abundantly clear that we have to step up our game. Therefore, any future UK, German or any other European government alike should prioritise addressing weak economic growth, burdensome bureaucracy, climate change and most importantly the long-standing underinvestment in defence capabilities. Successfully addressing these challenges will in the long run not only create a more secure Europe, but also a more prosperous one.
Business communities are up for the tasks ahead, but need the freedom and a reliable framework to play their part and act decisively. Providing the network infrastructure for the desired growth of renewable energy production, driving efficiency in defence procurement and creating the right framework for the IT sector to develop new and innovative applications, are just a few areas that need urgent attention. The major economies in Europe need to be drivers on these fronts and I hope that the next UK government, whatever its composition, will also take more of a leadership role in these areas. The last few years have shown that the provision of decisive action has, for various reasons, been in short supply not only in Britain, but across Europe as a whole.
In 2024, the Chamber in its interactions with the wider political establishment across the UK and Germany will focus on the need for closer cooperation and shared approaches to common challenges. One particular area, which needs addressing is further improving business and general shorter term mobility across the Channel. Working together creates foundations for new relationships, which are the basis for successful cooperation, be that in business, politics or on a personal level. Therefore, our businesses would welcome the EU and the UK to use the upcoming review of the Trade and Cooperation Agreement in 2026 as an opportunity to make significant progress on this front. With the devil lying in the detail, preparations for that have to start now.
Dr Ulrich Hoppe
Hauptgeschäftsführer
Deutsch-Britische Industrie- und Handelskammer
