Accompanied by a delegation from politics and business, German Chancellor Olaf Scholz paid an official visit to Chile on January 29 and 30. In addition to meeting with President Gabriel Boric, Scholz had an important meeting with representatives of Chilean and German business. The conclusion of a cooperation agreement in the field of sustainable mining and circular economy as well as the signing of a memorandum of understanding to promote innovation for small and medium-sized enterprises were part of the agenda.

“The enforcement of reasonable social and environmental standards is an opportunity for the engagement of German and European companies here in Chile. In Germany, we recently passed a law requiring due diligence for certain supply chains. This is because we firmly believe that partnerships only work on a stable basis if they are sustainable, if environmental standards are met and if they bring benefits to all parties involved,” Scholz said Monday at a Chilean-German business meeting in Santiago.

During his visit to Argentina, Chile and Brazil, the German leader aims to further expand trade relations, boost investment and diversify his country’s supplier portfolio. Under the current global conditions, Latin America is once again the focus of German business. Within the region, there is particular interest in deepening cooperation with Chile, partly because of the country’s potential to pioneer the production of green hydrogen and its derivatives – both essential for the energy transition.

But in addition to the “fuel of the future,” the German green tech industry also needs lithium, copper, rhenium and molybdenum through sustainable and traceable supply chains – all reasons why Chile has become a strategic ally for the European giant. In turn, the Chilean market is very attractive for the use of German technology to make industrial processes more efficient and sustainable.

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