There’s exciting news for companies looking to expand into Europe: Economic officials in Germany are currently spearheading an effort to negotiate a free trade agreement between the United States and the European Union.
The Transatlantic Trade and Investment Partnership (T-TIP) is a bilateral initiative designed to reduce trade barriers and facilitate the import and export of goods and services. The goal is to eliminate red tape and bridge the consumer protection standards gap between the U.S. and European Union.
Lowering export costs for Delaware companies will result in better trade opportunities and increased competitiveness in the German marketplace. This is an exciting development for Delaware, given that Delaware’s top industries are well-aligned with consumer demand in Germany.
ICT and Bio-Science sectors headline export opportunities for Delaware companies
Germany’s Information and Computer Technology (ICT) market is the largest in Europe, where 75 percent of the software products purchased are sold by U.S. companies. “Green IT” is driving demand for systems planning and design solutions, and the government is has announced plans to implement digital solutions for e-government and e-health systems.
With the third-highest concentration of IT jobs in the nation, Delaware has an emerging collection of companies, such as Sev-One, Computer Aid Inc. and MySherpa, capable of supplying the German market.
The medical device market in Germany is the third-largest in the world, and 70 percent of those devices are imported. There is increasing demand for preventative medicine solutions, outpatient treatment and home care, due in part to heavy investment by the German government. The best prospects of this market include many devices manufactured in Delaware, such as diagnostic and therapeutic equipment, miniaturized electro-medical equipment, and cardiovascular and endoscopy products.
Delaware’s new German trade representative Dr. Linda von Delhaes-Guenther is ready to assist Delaware companies find partners and new clients in Germany.
Global Delaware has organized an exclusive program to work with Linda during the State’s trade mission to Germany from December 7 – 11, 2015. Delaware businesses are encouraged to apply for this exciting expansion opportunity!