Investment and trade contribute to transatlantic economic growth and jobs on both sides
More than 1,550 U.S. companies are active in Bavaria alone
Frankfurt / Berlin, June 19, 2024 – The members of the American Chamber of Commerce in Germany (AmCham Germany) met yesterday in Munich for the 120th Annual Membership Meeting. They elected Andreas Schwaiger, Managing Director, Texas Instruments, as Executive Vice President and the following individuals as Vice Presidents to the Board of Directors:
- Mario Federico, President & Managing Director, McDonald's Germany LLC,
- Philipp Justus, Country Manager Germany and Vice President Central Europe, Google Germany GmbH
- Astrid Teckentrup, Senior Vice President, Procter & Gamble.
Simone Menne, who is active in multiple supervisory boards and has served as President of AmCham Germany since 2021, was confirmed in office yesterday and emphasized the following at this year's Annual Membership Meeting: "As President of AmCham Germany, I am proud of the wide range of companies that comprise and support this organization’s mission, as we analyze the complex dynamics within our very own country to ensure that Germany remains an innovative and reliable transatlantic partner, rooted in shared values and a global mindset."
At the subsequent Business Conference, U.S. Consul General Timothy Liston emphasized: "Through investment and trade, we are jointly contributing to economic growth and creating more and better job opportunities in the United States and Germany. Our trade and investment relationship is as secure as ever. We see that in the resilient economic ties between our two countries, which form a bedrock of the transatlantic relationship."
State Secretary Dr. Florian Herrmann, Head of the Bavarian State Chancellery and State Minister for Federal and Media Affairs, emphasized in his speech: "For over 70 years, the U.S. has been our closest ally and partner in values. We believe in democracy, freedom and success through economic strength. Over 1,550 U.S. companies are active in Bavaria. Conversely, around 2,200 Bavarian companies secure 580,000 jobs in the U.S. This is a model of success for both sides. AmCham Germany brings companies and decision-makers together and makes an immensely important contribution to maintaining constructive dialogue and building bridges."
During the conference, the results of the Transatlantic Business Barometer 2024, a long-standing joint project between AmCham Germany and the international management consultancy Roland Berger, were presented. The publication is an annual survey among U.S. investors in Germany and German investors in the U.S. on the location conditions in the respective country. Germany's outstanding positive location factors include the quality of its employees, research and development and supplier networks.
The results of the Transatlantic Business Barometer 2024 were then discussed in a panel which included:
- Marcus Berret, Global Managing Director, Roland Berger,
- Klaus Bürg, Managing Director & Vice President EMEA, Palo Alto Networks,
- Agnes Heftberger, Corporate Vice, President Microsoft Germany,
- Lukas Köhler MdB, Stellv. Vorsitzender der FDP-Bundestagsfraktion,
- Catherine Hunt Ryan, President, Manufacturing & Technology, Bechtel.
