Jan 02, 2009
New Foreign Trade and Inward Investment Agency of the Federal Government: Germany Trade & Invest
Berlin - The Federal Government has established a new agency for foreign trade promotion. Germany Trade & Invest GmbH, responsible for both foreign trade and inward investment promotion, officially came into being on January 1 following the merger of the German Office for Foreign Trade (BFAI) and Invest in Germany GmbH. Headquarters for the new agency is Berlin, with a further site in Cologne.
Germany Trade & Invest's mission is to market Germany as a technologically-advanced and attractive business and investment site. Within this framework, the agency works to attract investments to Germany.
The organization advises and supports foreign companies seeking to expand into the German market, and assists companies established in Germany looking to enter foreign markets. An integral part of the agency's mission is the promotion of economic activity in Germany's new federal states, including Berlin.
Germany Trade & Invest can rely on a global network of experts who perform on-site research into foreign markets and support foreign businesses looking to establish a company in Germany. They work closely with the German Chamber Network (AHKs). This growing partnership allows German exporters and potential foreign investors alike to benefit from a centralized first point of contact overseas, with client-specific information and consultancy services all provided under one roof.
The new agency has a staff of 350 that are located in Berlin, Cologne, and in offices abroad. Chief Executive of the new organization is Michael Pfeiffer, who was previously the managing director of Invest in Germany GmbH.