Minister: State Supports Expansion of CATL Plant - Thuringia Delegation Boosts Trade, Secures Expansion with China
Thuringia's Economics Minister Colette Boos-John is leading a 40-member delegation to China to strengthen trade and research ties. The visit aims to boost exports and foster cooperation with key partners.
Thuringia has a significant trade deficit with China, importing €4.6 billion annually and exporting about €1 billion worth of goods. The delegation, which includes representatives from over 200 Thuringian companies, seeks to improve this balance. These companies primarily export optical devices, machinery, electrical equipment, and pharmaceutical products to China.
The delegation visited CATL, a battery manufacturer with a plant near Arnstadt employing around 1,700 people. Thuringia is interested in further expanding this plant and will support CATL's growth. CATL is also expanding its battery testing center in Arnstadt due to increased demand in Europe and new projects in Hungary and Spain.
The city of Ningde has shown interest in closer cooperation with Thuringia. Additionally, Thuringia's state development agency signed an agreement with Zhongguancun Technology Park for mutual support in business relocation. These initiatives aim to create new opportunities for both regions.
The delegation's visit to China has resulted in several agreements that could significantly enhance trade and cooperation between Thuringia and China. These include supporting CATL's expansion, fostering city-to-city cooperation, and facilitating business relocation. These steps are expected to create jobs, stimulate economic growth, and strengthen cultural ties between the two regions.
