The new free trade agreements between the EU and India as well as Mercosur were recently announced with great media attention. They are also intended to help
to promote the diversification of European supply chains and sales markets and to reduce dependence on the major markets of China and the USA. The dynamic markets of the Global South are still underrepresented in European trade statistics, but according to the plans of the EU Commission, this should change as quickly as possible. However, the agreements also send a strong signal in times when protectionist trade policies seem to be becoming increasingly acceptable.
However, it must not be overlooked that Argentina, Brazil, and India are not replacing the USA or China. Last year, India was Thuringia's 24th largest trading partner, and the Mercosur region combined was the 20th largest. China (trade share: 16 percent) and the USA (trade share: 8 percent) remain by far the two most important trading partners for the Free State.
The agreements shift trade flows somewhat in the right direction, making European companies more resilient to geopolitical uncertainties and unpredictable customs policies. They also offer unmistakable new market opportunities for companies in Thuringia. Therefore, it is advisable to closely monitor developments, examine possible customs advantages and rules of origin early, and strategically prepare market entry strategies for India and South America. Those who position themselves in time can benefit from improved competitive conditions and new growth potential .
LEG provides effective support in this regard: Thüringen International is organizing a Delegation trip led by Thuringian Minister President Mario Voigt to India.
As early as March 31, the Online event "Green Tech and Transformation Technologies in Argentina" takes place, which is organized in cooperation with the Thuringian Renewable Energy Network (ThEEN) is organized. From April 19 to April 21, the event "German-Brazilian Business Days" will take place, with the participation of high-ranking politicians and companies expected. Spaces are limited – if interested, please contact Carine Cornez-Fliege.
In addition, the Thuringian Foreign Representative in Brazil, Dietmar Sukop, is available as a local contact for Thuringian companies. Further information on the foreign representatives and the possibility of making an appointment can be found on the Website of our foreign representatives.
Latest news: All foreign representatives will be available for individual consultation meetings at the 18th Thuringian Foreign Trade Day in Jena. If interested, we recommend reserving an appointment promptly.
