Federal Government plans major overhaul of its resource foreign policy

The Federal Government intends to overhaul its raw material foreign policy. According to the Federal Ministry for Economic Affairs, the Foreign Office, and the Federal Ministry for Economic Cooperation and Development, the focus will be on bilateral raw material partnerships, a "stronger integration of instruments and actors," and the "closer involvement of the German economy," which was discussed after the cabinet meeting on Wednesday. The shared goal is securing the raw material supply for the German economy.

To achieve this, the ministries plan to involve actors from development cooperation, such as GIZ, chambers of commerce abroad, and German foreign missions, more significantly, and to establish central points of contact for raw material issues abroad. Furthermore, business relationships are to be developed and strengthened.

The Federal Government intends to expand existing bilateral partnerships, such as those with Australia, Brazil, Chile, Canada, and South Africa, and build new economic relations. The creation of "diversified, sustainable, and resilient supply chains" will be enabled through "long-term purchasing contracts and joint financing." Regarding the involvement of the economy, the government plans to "make offers more transparent and support the concrete purchasing interests of the industry."

Federal Minister for Economic Affairs Katherina Reiche (CDU) stated that she wants to "better utilize domestic raw material potentials and reclaim more raw materials through recycling." However, she also acknowledged that "international supply relationships remain indispensable."

Federal Foreign Minister Johann Wadephul (CDU) also wants to expand global partnerships. According to the Minister, in such a volatile world situation where raw materials and sea routes are used as coercive tools, Germany cannot depend on single entities.