As economic ties between Germany and Brazil rapidly take off, industry leaders from the two countries met to discuss strategies for the future -- including the 2014 soccer World Cup in Brazil.
Brazil is Germany's most important trading partner in Latin America
"German company investment in Brazil is already at a record level," said Juergen Thumann, the president of Germany's Federation of Industry (BDI), as the conference began on Monday, Aug. 25.
"An investment program of about 200 billion euros ($296 million), a stable economy and a steady hand on the nation's finances, along with recent positive reports from rating agencies would help German investment in Brazil to increase," said Thumann on opening the conference, held in the western German city of Cologne.
Thumann told the 500 Brazilian and German business leaders attending the conference that Brazil in particular needed investment in its transport and energy infrastructure.
German exports strong
Strong demand from leading emerging economies like Brazil has helped to buoy Germany's export machine in the face of slowing global economic growth and turn the nation into the world's biggest exporter.
The trade volume between the two nations has more than doubled over the last decade with German exports to Brazil racing ahead by 33 percent last year.
German companies' activities in Brazil at present represent more than 8 percent of the Latin American country's gross domestic product.
The result is that Brazil is Germany's most important trading and investment partner in Latin America.
Prepping for World Cup
Thumann also stressed the key role that German companies could play in helping Brazil prepare for the world football championships which it is to host in 2014. Germany successfully mounted the world football championships in 2006.
"Because of Germany's experience with the 2006 World Cup, German industry can and will make a major contribution (to the championships in Brazil)," said the BDI chief.