Reduce Dependence: Minister Travels to China - Thuringia's Trade Mission to China Aims to Reduce Dependence
Thuringia's trade with China is heavily imbalanced, with imports at 4.6 billion euros compared to just 1.1 billion euros in exports. The region's Minister of Economics, Colette Boos-John, has led a 40-member delegation to China to address this issue, aiming to reduce dependence on the country.
Thuringia's main exports to China include optical devices, machinery, electrical equipment, and pharmaceutical products. Despite the trade deficit, China is the fourth-largest target market for Thuringian exports, with over 200 companies maintaining export relations with the country. This is the first official delegation from Thuringia to China since 2018.
Minister Boos-John has described the current dependence on China as 'economically unhealthy'. The region seeks to expand trade relations with other countries and explore new export opportunities in China. The leader of the 40-member delegation, though unnamed, is expected to play a crucial role in these negotiations.
Thuringia's trade mission to China aims to diversify the region's economic ties and reduce its reliance on the Chinese market. With a focus on expanding exports and exploring new opportunities, the delegation hopes to achieve a more balanced trade relationship with China.
