Skopje, 25 October 2023 (MIA) - Recession in Germany will reflect on our economy because Germany is our largest trading partner. That is why we are working in parallel on diversification of sectors and Germany is also investing in the field of battery production besides the automotive industry, said Economy Minister Kreshnik Bekteshi on Wednesday.

"The economic outlook is positive. I am certain that numbers and data will be even higher as a result of the Government measures until the year-end," Minister Bekteshi told reporters at the sidelines of event SUBEX - Suppliers Balkan Expo, organized by the Delegation of the German Industry and Commerce (AHK) in North Macedonia.

AHK North Macedonia director Antje Wandelt said the country is offering interesting conditions for investors, which is one of the reasons why German companies have decided to reinvest here and not in their homeland.

"Over the past couple of years, almost all German investors have decided to reinvest in their capacities here. They are working on long-term projects and that is why North Macedonia is an interesting market to invest and reinvest in," said Wandelt.

German Deputy Head of Mission Otto Graf said Germany and North Macedonia are strong business partners.

"German investments have mostly been in the automotive sector and now it is difficult to find the proper workforce in this field, and therefore large investors are not investing anymore. They are now replaced by smaller investors that are able to find workforce with proper skills. I think this is a good opportunity since it ensures industry diversification," said Graf.

He added that other German companies are also present in North Macedonia, in the sectors of battery research and development, medicine, medical-textile etc.

"There are a lot of opportunities and time for progress, and SUBEX is a very good platform to find local suppliers, since investments are mostly linked to the local economy," added Graf.

Photo: MIA