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German Chancellor Friedrich Merz has insisted Europe remains a stable place to invest, as he began a three-nation tour of Asia on Tuesday aimed at broadening Germany’s ties in the region beyond China.
Speaking in Singapore, the first stop on a trip that will also take in Japan and South Korea, Merz said there were "no uncertainties in Europe".
"Under the federal government I lead, investment opportunities will be continuously improved," he said after talks with Singapore’s Prime Minister Lawrence Wong.
"All I can say is that I encounter a great deal of confidence in Germany and in Europe as locations for investment," Merz added.
His upbeat message comes against a backdrop of fresh turmoil in Berlin, where a key minister from the junior coalition partner Bärbel Bas resigned this month. Merz’s approval ratings have slipped while support for the far right has grown, and in France, weeks of protests have been accompanied by widespread looting.
Wong, however, said confidence in Germany and Europe remained strong among Singaporean investors, stressing that they take a long-term view rather than one tied to a single election cycle.
Berlin has been looking to diversify its trade and strategic partnerships amid concerns over the reliability of the United States and China’s rise as an economic rival. China remains Germany’s biggest economic partner in Asia, but is increasingly viewed as a competitor.
Merz said Singapore, Japan and South Korea shared "common interests" with Germany.
"If we undertake these efforts together, then our independence from other countries will grow significantly," he said, without naming which countries he meant.
Merz’s Asia itinerary
- Tuesday 27 October – Singapore: Talks with Prime Minister Lawrence Wong
- Wednesday 28 October – Japan: Meeting with Prime Minister Sanae Takaichi
- Thursday 29 – Friday 30 October – South Korea: Two-day visit