Tag is: Germany (disambigu

Germany signs major Canadian LNG deal amid energy fears in Middle East’

by the Logistics TransportIn the the General Assembly

As Europe grapples with a protracted energy crisis in connection with the war in Ukraine’, and now escalating conflicts in the Middle East’, Canada is preparing to deepen its energy ties with Germany.

According to AP’, Canada will sign an agreement with ’'s SEFE group (Safety of Energy for Europe) for procurement from the proposed Ksi Lisims export plant on the coast of British Columbia.

Sources spoke on condition that their names are not revealed as they do not have the authority to speak ahead of Wednesday's announcement.

Under the agreement, up to 1 million tons of liquefied natural gas will be exported annually.

CanadaScheduled exports from ’, Germany in terms of energy, will account for about one-eighth of ’'s LNG imports last year. According to the country's federal energy regulatory agency, Bundesnetzagentur’, Germany imported 106 terawatt hours of gas through LNG terminals in 2025.

SEFE is a major German energy company. Europe’ is struggling with an energy crisis linked to the war in Ukraine’de 2022Before Berlin expropriated it, it was a subsidiary of Gazprom’ in ’, Germany.

After European countries backed Ukraine’, Russia triggered an energy crisis fueling inflation by sharply reducing its natural gas supply, forcing some factories to shrink or close due to rising energy prices.

Before the war, Germany was one of Europe's largest importers of Russian gas.

Germany continues to rely on LNG imports as part of its efforts to change Russian pipeline gas supplies.

Overall, with the development of the Iran war, there is growing concern that Europe’'s largest economy could face renewed energy shocks.

Germany’'s economic outlook has weakened sharply due to conflicts and instability in the energy market. In April, the German government released its 2026 growth forecast, citing the impact of energy shocks linked to the war in Iran. %0.5’ine lowered.

Recent indicators indicate that the German economy remained weak in May, both the manufacturing and service sectors are under pressure, and the private sector continues to contract. However, Germany’'s ifo Business Environment Index rose unexpectedly in the same month.

Canada looks beyond the U.S. market

Canadian Prime Minister Mark Carney has set a goal of doubling non-US trade within a decade. Energy-rich Canada currently exports almost all of its oil and gas to the U.S. ’.

British Columbia Prime Minister David Eby said early Tuesday that the Germany-’ya Canada LNG’si procurement agreement would be an important step towards the partners behind the Ksi Lisims project to take the final investment decision for the 10 billion Canadian dollars (6.6 billion euros) plant and export terminal.

Ksi Lisims, located on the island of Pearse, near the border with Alaska, has received the necessary permits, but the consortium has not yet made a final investment decision that will allow construction to begin.

Eby said making long-term purchase agreements with buyers is a crucial step ahead of the project's progress.

The partnership is already a subsidiary of Shell’ and has signed procurement agreements with French TotalEnergies.

5,000 ultra-rich, Germany holds more than a quarter of ’'s financial wealth

by the Logistics TransportIn the the General Assembly

Global private financial wealth increased by 7.4 percent in 2025’te; This significantly outperformed inflation, which fell below 3% ’ in each of the key economic areas. In ’, Germany, it was 2.2 percent. This is according to the ‘Global Asset Report 2026’, published today by management consulting Boston Consulting Group (BCG).

Growth is primarily driven by strong stock markets

The main factor in the increase in wealth was the performance in the stock markets last year. As of the reporting date of December 31, 2025, total wealth in ’, Germany, was around USD 23.3 trillion. More than half of this is held in real estate, especially real estate.

BCG refers to people with financial assets over $100 million as ‘super-rich ’ or ‘Ultra High Net Worth Individuals’ (UHNWI’s). In ’, Germany, this group currently consists of about 5,000 people; That's roughly 1,100 more than a year ago. There are just under 97,000 super-rich individuals worldwide, and more than a third of them live in the United States.

Much of the wealth is concentrated in this small group: Around 5,000 super-rich, Germany accounts for 27.3% of all financial wealth in ’. For the comparison: The total shares of approximately $769,000 millionaires (people with financial assets between one and $100 million) are 25.5 percent’ and therefore have a smaller share than the super-rich alone. Around 66 million people in ’, Germany, whose financial assets are under $250,000, oppose it.

Wealth gap continues to expand

According to Der Spiegel’in, BCG partner Michael Kahlich, ‘, the concentration of wealth at the top continues to increase, ’ says. Wealthy people are able to diversify their assets more broadly and invest more heavily in high-yield asset classes such as stocks or private equity. Kahlich, ‘This is structurally accelerating wealth accumulation, ’ says. According to BCG’, the share of the super-rich in Germany's financial wealth is expected to continue to grow until 2030’.

Despite the downward trend, Germany still accounts for about a third of ’'s financial wealth in cash and current, fixed-term and savings accounts, according to Stern magazine. Twenty-five percent are tied to life insurance policies and pensions.

Politically explosive figures

According to BCG’, the relatively weak culture of equity investment in Germany is one of the reasons why ’'s net wealth is expected to grow slower than Western European and global averages in the coming years. This adds structural burdens such as a largely stagnant economy, demographic change, and poor productivity growth.

The new data is also expected to fuel internal discussions on the coalition's tax policy. The federal government is currently scrambling over how to finance a major reform package. SPD’ initially advocated higher taxes on wealthy, conservative politicians such as Saxony’'s minister-president Michael. KretschmerThey have recently signaled that they are open to higher taxes on large fortunes.

Nvidia Germany outperformed ’: How do the market values of tech giants compare to the best economies?

by the Logistics TransportIn the the General Assembly

The economic size of technology giants and multinational companies has grown rapidly in recent years. Nvidia reached a market cap of $5.7 trillion in mid-May. The company now surpasses the entire economy of ’, Germany, the world's third-largest economy and Europe's largest economy, at $5.45 trillion in gross domestic product (GDP).

So how does the market capitalization of tech giants and multinational corporations compare to the world's largest economies? Where does Europe stand?

Nvidia, the US-based semiconductor company whose chips power everything from video games to artificial intelligence systems, is the world's most valuable company. October 2025After ’te became the first company with a market capitalization exceeding $5 trillion (4.38 trillion euros), its value reached $5.7 trillion (4.89 trillion euros) in mid-May 2026.

In terms of economic size, Japan and Britain already outperform ’, while Germany now outperforms ’'s projected GDP ’ for 2026, according to IMF’. Market cap data from CompaniesMarketCap’ as of May 14, 2026.

The IMF estimates that ’'s 2026 GDP will be $5.45 trillion (4.67 trillion euros). The U.S. remains the world's largest economy with $32.38 trillion (27.75 trillion euros), followed by China with $20.58 trillion (17.87 trillion euros).

Since Germany is ’'s largest economy, the market capitalization of Nvidia’ exceeds this, which means that the company is now larger than all European economies; These include Britain $4.26 trillion (3.65 trillion euros), France $3.6 trillion (3.08 trillion euros), Italy $2.74 trillion (2.35 trillion euros), and Spain $2.09 trillion (1.79 trillion euros).

Nvidia exceeds the total GDP ’ of 19 EU countries

Alphabet (€4.12 trillion) and Apple (€3.75 trillion) are also larger than all European economies except Germany. France (3.08 trillion euros) outperforms Microsoft’ (2.61 trillion euros) and Amazon’ (2.46 trillion euros) in economic size. But both companies still exceed ’'s GDP (€2.35 trillion) in Italy, the continent's fourth-largest economy.

The total GDP ’ of the 19 smallest EU economies totals $5.02 trillion (€4.3 trillion), which is still below Nvidia’'s $5.7 trillion (€4.88 trillion) market cap.

Nvidia CEO Jensen Huang attended Donald Trump’'s high-profile visit to China’ this week. In March, Huang said that increasing demand for artificial intelligence could boost Nvidia’'s sales to $1 trillion in two years.

Top 5 U.S. companies and Europe’'s top five economies

The five largest companies in ’ (Nvidia, Alphabet, Apple, Microsoft and Amazon) have a total market capitalization of $20.81 trillion (17.84 trillion euros). This exceeds the total GDP ’ of Europe’'s five largest economies (Germany, England, France, Italy and Spain); That's $18.14 trillion ($15.55 trillion).

No European ​​ company can come close to US tech giants

Dutch chip maker ASML ranked 21’th with a market capitalization of $610.69 billion (€523.66 billion), making it the European ​​ company at the top of the list. Europe’ doesn't have a company on a scale comparable to the US tech giants.

Swiss pharmaceutical giant Roche’ has a market capitalization of $335.1 billion (€287.44 billion), while UK-based AstraZeneca has a market capitalization of $286.84 billion (€246 billion).

Market capitalization and GDP measure different things. GDP reflects the total value of goods and services produced by an economy within a year, while its market value represents the market value of a company's equity and reflects investors' expectations about future earnings and growth prospects.

Yet the comparison offers a striking example of the scale these companies have reached.

From explanations to actions: Which European countries spend the most on defense?

by the Logistics TransportIn the the General Assembly

European ​​ leaders seem to be fulfilling their promise to spend more on defense.

Following US pressure from President Donald Trump, which ’ scolded NATO allies for failing to meet their defense spending goals, the continent's investments in 2025’ %It increased by 14 (more than any other continent) to 739 billion Euro’.

According to the Stockholm International Peace Research Institute ’ne (SIPRI), this is the steepest climb seen since the 1950s and twice as high as 10 years ago. Many NATO members agree that the GDP set for 2035 %It is taking action to achieve its new spending target of 5’i.

Berlin invested about 97 billion euros in defence last year; This is according to 2024’e in expenditures %That's an increase of 24’.

This means that Germany ’ is now Europe ’'s largest defense investor, surpassing the UK ’, and is the world's fourth largest defense investor, behind the US ($854 billion), China ($336 billion), and Russia ’ ($190 billion).

The Bundeswehr ‘ will be ’'s most powerful conventional armed force.

EuroDefense Germany President Colonel (retired) Ralph Thiele told Europe in Motion’a that with a package of 153 major projects underway, Germany’ aims to acquire new weapon systems, modernize its equipment, strengthen its infrastructure and cybersecurity.

Germany’'s armed forces, the Bundeswehr, are fortifying their infantry brigades with more Puma combat vehicles and ordering billions of euros for the 237 Infanterist der Zukunft system by 2029.

This is a modular, integrated combat system designed to provide infantry with significant lethality, survival, mobility, combat command and training.

German Bundeswehr soldiers stand next to a German army armored military vehicle during a joint German-Lithuanian exercise near Vilnius, May 29, 2024

He said the military was also focused on closing air defense gaps, making significant investments in guided missile systems, as well as plans to purchase 20 new Eurofighters, as well as Skyranger 30 anti-aircraft gun tanks of up to 600’e, and placing large orders for “Patriot, IRST and Meteor.

The navy is also preparing to expand with plans to supply up to 42“ manned ships integrated with the ” 50 unmanned system, including ’new corvettes and submarines.

Thiele said that with investments in spy satellites, space planes and laser-based defense systems in space, “More strategic priorities lie in military space programs.

He announced that these investments would turn the German army into “, ’'s most powerful conventional armed force.

What other countries are increasing their military spending?

Another major economy that has not retreated %Italy is ’ with an increase of 20’; Currently, Israel stands at the head of ’le (41 billion euros) in military spending.

Spain, where NATO’ is underperforming as usual, %Going further with an increase of 50’, the alliance's former GDP for the first time since the beginning of the 90’s %2’si has reached his goal.

Who spends the most GDP compared to ’?

Looking at the share of defense spending in GDP provides a clearer picture of who is considering defense as a national priority.

Ukraine (Estimated %with 40), Algeria %While it is the world leader with a significant ratio of 8.8, all the top countries in Europe ’ are neighbors with Russia.

Poland, GDP’ %It ranks first by splitting 4.5’ini into weapons and defense infrastructure.

Republic of Latvia %It came in second with 3.6, while Estonia (%3,4) and Norway (%3.3, followed by Iceland (almost %0) and Ireland (%0,2 and Switzerland (%0.8) is at the bottom of the ranking.

Among the continent's five largest economies, and despite a slight decline in military spending in 2025’te, the United Kingdom %It continues to be the largest investor with 2.4, making it Germany's (%2,3, from Spain (%2,1, from France (%2) and Italy (%1,9 is followed.

How does the war in ’ affect military spending?

the U.S., a noticeable decrease in total spending (%-7.5), which was due to the fact that a new financial military aid to ’ was not approved in 2025’te Ukraine. This was in stark contrast to the previous three years, when a total of $127 billion was signed for Kiev.

Washington is still among the 15 most-spending countries in the world's total defense spending. Constitutes ’; the Chinese () and Russia (%6.6) is followed.

SIPRI, “Despite ongoing economic pressures and sanctions, Russia has so far managed to increase its military spending on an annual basis since 2022’, despite changing procurement and operational strategies, said ”.

"As the occupation of “ has increasingly turned into a war of attrition, Russia has turned to supplying higher quantities of cheaper weapon systems in order to limit operational costs," the statement said.

Germany has the second largest gold reserve in the world. Is it time to cash out?

by the Logistics TransportIn the the General Assembly

Germany is sitting on a gold fortune, and some economists and politicians think it may be time to open the piggy bank.

The German Bundesbank ’ holds 3,350 tons of gold, making it the second largest reserve in the world after the US ’. With the precious metal recently exceeding $4,700 (4.140 euros) per ounce, the value of these reserves is currently close to 440 billion euros.

Marcel Fratzscher, president of the German Institute for Economic Research (DIW), says that this amount amounts to a large piggy bank” against the “crises, and Germany argues that ’ should be willing to use at least some of this amount.

Speaking to T-online’a, he suggested that revenues could be diverted to ease the burden on citizens and businesses or invest in education and infrastructure.

The call came at a time when consumer prices continued to rise. The Driver Index, which tracks driving-related products and services, according to the Federal Statistical Office’, March 2026, compared to a year ago in ’ %6.7 is higher.

GermanyWhere is ’'s gold?

GermanyAll of ’'s gold is not available at Frankfurt’. About 1,236 tons (roughly a third of the total) are stored in the Federal Reserve ’ in New York’, and 404 tons are held in London’.

All remain under the management of the Bundesbank’.

The arrangement has deep roots. After World War II, Germany accumulated large trade surpluses that were converted into gold under the Bretton Woods system, a post-war monetary order that pegged participating currencies to the U.S. dollar at constant exchange rates.

In the early 1970s, when this system collapsed, gold remained where it was.

In 2017, the Bundesbank repatriated 374 tonnes of the Banque de France’ in Paris, citing the shared euro as the reason for the transfer. However, most of its foreign reserves remain in the New York ’.

Bring him home?

This sparked a growing political debate.

Michael Jäger, vice-president of the German Taxpayers' Association (BdSt) and president of the European Taxpayers' Association, Euronews’e ABD’, whose trust in “ has suffered greatly due to ’Trump”'s policies, said it was “tam time to restore ” and its reserves.

March 2026In ’, the far-right Alternative for Germany (AfD), the Bundestag, presented a motion in ’ calling for the repatriation of all German state gold.

The parliamentary group went even further, suggesting that the reserves could support a possible national currency in the future; This was an implicit reference to the renunciation of the euro.

The proposal was ridiculed by other parties. CSU MP Mechthilde Wittmann called it a “comic movement, warning against the handling of reserves by ”alarmism, fashionable words, ideological ostentations.

SPD’den Philipp Rottwilm argued for gold to be kept in the New York’, arguing that the arrangement offered flexibility.

Greens’den Sebastian Schäfer called AfD’'s move “fake controversy” and insisted that the gold was safe in the vaults of the Federal Reserve Bank in “New York City’.

Doris Achelwilm of the Left Party’ took a different path, questioning whether a portion of the reserve could be sold directly, as Fratzscher’in did. The proposal was referred to the Finance Commission’na.

Will the Bundesbank give up?

The Bundesbank has consistently resisted calls to sell gold, seeing reserves as a long-term anchor for confidence in the currency. At the same time, he has repeatedly reaffirmed his trust in the Federal Reserve ’e as a custodian.

According to Fratzscher ’e, breaking this taboo does not mean recklessness.

Even the German chancellor of “ can't simply say: He agreed that you should sell the gold now, ”, but argued that at a time of increasing economic pressure, it makes little sense to exclude it altogether.

Bad news for the German economy

by the Logistics TransportIn the Category: Logistics

Germany's economic outlook has worsened, with recent Purchasing Executive Index (PMI) data showing continued weakness in both the manufacturing and service sectors. According to experts, the German economy, which has been dragged into an even deeper contraction, does not expect a recovery until the end of the year.

S&A P Global's HCOB (Hamburg Commercial Bank) Purchasing Executive Index (PMI) data for September has been released.

According to the data, the composite PMI in Germany, which was 48.4 points in August, fell to 47.2 points in September. Thus, Germany compound PMI data, which was below 50 points, fell to the lowest level in the last 7 months.

The service sector PMI, which was 51.2 points in August, fell to 50.6 ⁇ in September to the lowest level in the last 6 months. Manufacturing PMI fell from 42.4 in August to 40.3 in September.

PMI data shows growth above 50 points and contraction below.

The manufacturing and service sectors account for more than 3 ⁇ 2 ⁇ of the German economy.

In the statement, ⁇ The German economy is being dragged into an even deeper contraction led by the manufacturing sector. ⁇

HCOB Chief Economist Cyrus de la Rubia, in his assessment of the data, ⁇ The decline in the manufacturing sector has deepened again, evaporating the hope of an early recovery in the German economy. While production experienced the fastest decline in the last year, new orders also decreased. ⁇

De la Rubia, who stated that companies in Germany have produced staff at an unprecedented rate since the Covid-19 pandemic in 2020, noted that this corresponds to a period when many major automotive suppliers announced significant employment reductions, and that these disturbing figures ⁇ will increase the risk of deindustrialization in Germany and the ongoing debate about what the government should do about it.

De la Rubia, optimism is a thing of the past. Producers are downright depressed about their future activities and their expectations for the coming year are declining. Moderate optimism in August changed dramatically to the harshest pessimism in a year in September. This rapid decline in sentiment is likely linked to a wave of negative news headlines surrounding Volkswagen ⁇ and casting a shadow over the industry as a whole. ⁇

Stating that these alarming trends in manufacturing are also starting to affect Germany's traditionally strong service sector, De la Rubia warned that the growth in the activities of the service sector has slowed for 4 consecutive months and is heading towards a recession.

German economy at risk of recession

The German economy is struggling to grow amid rising interest rates and cyclical winds and structural changes. The economy shrank 0.1 percent in the second quarter due to declining investments.

The Central Bank of Germany expects lower growth in the 3rd quarter, while the Institute for Economic Research (Ifo), one of Germany's leading economic think-tanks, considers a further decline in GDP possible in the 3rd quarter.

The German economy will be in a technical recession if it shrinks in the third quarter. The technical recession is expressed as a reduction in GDP for 2 consecutive quarters. Germany experienced a recession in 2020, the first year of the pandemic after 10 years of good economic growth, for the first time since 2009.

The German government expects the economy to grow by 0.3% this year.

On September 5, Ifo cut the country's growth forecast for 2024 and next year from 0.4 percent to zero due to poor investment and order status.

On the other hand, while the rising interest rates against the rising inflation in the Eurozone after the Russia-Ukraine War curbs the desire of German companies to invest, the fact that many countries, especially China and Turkey, are increasingly producing the goods imported from Germany, makes it difficult for Europe's largest economy to move away from the recession.

In Germany, where structural problems also curb the economy, it is stated that the business model titled ⁇ Import cheap energy and intermediate goods, process them and export them expensively with the perception of ⁇ Made in Germany ⁇ as high quality goods, which was once quite successful, no longer works.

In addition, the availability of cheap subcontractors in Eastern Europe, China's ever-increasing exports and the USA's construction of the country's defense do not help the country.

While many recent crises such as the Covid-19 pandemic, supply chain disruptions and the Russia-Ukraine War have exposed the weaknesses of the German economy, it is also noteworthy that the country faces some problems in overcoming geopolitical problems, climate change, stagnant economy and demographic difficulties. Germany is still crushed under its own bureaucracy, rules and procedures.

Meanwhile, German industry is increasingly weakening, Chinese companies are technologically catching up, and even Far Eastern companies are outpacing Germans in renewable energy and automotive.

Source of: bigpara.hurriyet.com.tr

Germany's border controls will not affect Turkey's visa process

by the Logistics TransportIn the Category: Logistics

The Embassy made a written statement on the X social media account regarding the border controls to be applied temporarily as of today in Germany.

As of today, temporary border checks will be carried out at Germany's borders due to security and migration policy reasons, and these checks will allow people who are not allowed to enter the country to be denied entry.

In the statement, which stated that this measure is in compliance with European Union law and was announced to Şengen partners in advance, it was emphasized that providing safe, regular and legal access to Germany is the main goal of this decision.

In the statement, it was pointed out that it is still possible to travel between the borders and that care will be taken not to create waiting times, ⁇ The visa issuance process for Turkey will continue to operate normally and will not be affected by this situation. ⁇ The statement was used.

Germany has announced that it has expanded its controls on the borders of Austria, Switzerland, Czechia and Poland to include France, Luxembourg, the Netherlands, Belgium and Denmark.

The German Interior Ministry, citing the fight against irregular migration, said efforts would be made to ensure that border controls have as little impact as possible on the daily lives, trade and travel of commuters between Germany and these countries.

Germany is not hopeful about 2024. The economy is not expected to recover until the end of the year.

by the Logistics TransportIn the Category: Logistics

According to the report prepared by the German Ministry of Economy and Climate Protection, At the beginning of the third quarter of this year, the German economy continued to stagnate, declining order books and generally weak order situation weakened the export-oriented industry. It's been transferred.

The championship did not cause enough increase in consumption

The report noted that the European Football Championship held in Germany on 14 June-14 July did not give a significant impetus to consumption.While the championship did not seem to give significant impetus to consumption, it appears that even significant increases in real wages did not increase consumer sentiment in the face of growing concerns about employment.⁇ statement is used.

Risk of recession on the agenda

German economy, due to declining investments in the second quarter of the year It's down 0.1 percent. The Central Bank of Germany expects lower growth in the 3rd quarter, while Germany's leading economic think tanks The Institute for Economic Research (Ifo) also said that a further decrease in GDP in the 3rd quarter was possible. He is appraising.

The country's economy will be in a technical recession if it shrinks in the third quarter. Technical recession, ⁇2 consecutive quarters of GDP reductionIt is expressed as ⁇ . Germany experienced a recession in 2020, the first year of the pandemic after 10 years of good economic growth, for the first time since 2009. The German government expects the economy to grow by 0.3% this year. On September 5, Ifo announced the country's growth forecast for 2024 and next year, from 0.4 percent to zero due to poor investment and order status. He dropped it.

Germany is not expected to recover until the end of the year.

by the Logistics TransportIn the Category: Logistics

In its monthly report on the country's economy published by the German Ministry of Economy and Climate Protection, it was stated that the German economy continued to stagnate at the beginning of the third quarter of this year, declining order books and generally weak order status weakened the export-oriented industry.

Despite falling inflation and a significant increase in real wages and a significant increase in purchasing power, consumer sentiment has deteriorated, the report said, ⁇ Economic recovery is not expected until the end of the year ⁇ .

In the report, it is noted that the European Football Championship held in Germany on 14 June-14 July did not give a significant acceleration to consumption, and while it is seen that the championship did not give a significant acceleration to consumption, it is understood that even the significant increases in real wages did not increase consumer sensitivity in the face of increasing concerns about employment.

There is a risk of recession.

The German economy is struggling to grow amid rising interest rates and cyclical winds and structural changes. The economy shrank 0.1 percent in the second quarter due to declining investments.

The Central Bank of Germany expects lower growth in the 3rd quarter, while the Institute for Economic Research (Ifo), one of Germany's leading economic think-tanks, considers a further decline in GDP possible in the 3rd quarter.

The German economy will be in a technical recession if it shrinks in the third quarter. The technical recession is expressed as a reduction in GDP for 2 consecutive quarters. Germany experienced a recession in 2020, the first year of the pandemic after 10 years of good economic growth, for the first time since 2009.

The German government expects the economy to grow by 0.3% this year.

On September 5, Ifo cut the country's growth forecast for 2024 and next year from 0.4 percent to zero due to poor investment and order status.

Germany and UK to sign new cooperation agreement

by the Logistics TransportIn the Category: Logistics

History of England the Prime Minister Keir Starmer, During his visit to Berlin, he met with German Chancellor Olaf Scholz. Following the meeting, a joint statement on deepening and improving relations between the UK and Germany was issued.

In the joint statement stated that Germany and England have a strong friendship, common values and mutual interests, ⁇We are close partners in Europe and internationally and long-standing allies in NATO. Today, given the common challenges facing our countries, we believe it is time to take our bilateral relations to the next level. To that end, we are beginning work on a bilateral co-operation agreement and will hold intergovernmental consultations to sign early next year.⁇ statement is used.

The agreement will ensure the strongest possible cooperation on the most important issues for the citizens of the UK and Germany, reflecting the status of the two countries as the closest partners in Europe.

The document noted that the Ministries of Foreign Affairs will coordinate the work for negotiating the bilateral agreement in close consultation with the prime minister's offices and relevant ministries, ⁇In this context, we welcome the work carried out rapidly on a new defense agreement between our Ministries of Defense. This agreement constitutes the main pillar of the forthcoming bilateral cooperation agreementIt was called ⁇ .

⁇ We are committed to strengthening Europe's defences ⁇

The joint priorities of the two countries include cooperation in foreign policy, growth of economies, industrial transformation, cooperation between law enforcement agencies and combating irregular migration, youth and education, energy security, climate and nature policy, development policy, transportation and infrastructure, and areas such as technology, research and innovation.

Germany and Britain are committed to defending and promoting peace and security in Europe.We are committed to deterring Russia, maintaining our support for Ukraine and strengthening Europe's defences.⁇ statement is used.