PR - Top Business Associations Establish Transatlantic Business Initiative (TBI)

Joint press release – Berlin, 16 June 2021

Top Business Associations Establish Transatlantic Business Initiative (TBI)

The Transat­lantic Busi­ness Ini­tia­tive (TBI) has been launched today by four lead­ing Ger­man busi­ness asso­ci­a­tions — the Asso­ci­a­tion of Ger­man Banks (BdB), the Fed­er­a­tion of Ger­man Indus­tries (BDI), the Fed­er­a­tion of Ger­man Whole­sale, For­eign Trade and Ser­vices (BGA) and the Asso­ci­a­tion of Ger­man Cham­bers of Indus­try and Com­merce (DIHK). Through the TBI, Ger­man busi­ness seeks to inject new momen­tum into transat­lantic rela­tions, build­ing on trade and eco­nom­ic pol­i­cy sup­port from Berlin and Brussels.

The TBI is com­mit­ted to strength­en­ing eco­nom­ic rela­tions between Ger­many and the EU, as well as the Unit­ed States and Cana­da. To this end, the ini­tia­tive will serve as a plat­form, address­ing transat­lantic issues from the per­spec­tive of Ger­man busi­ness. The TBI will seek dia­logue with the Ger­man gov­ern­ment, the Euro­pean Com­mis­sion, rel­e­vant par­lia­ments and, above all, with the gov­ern­ments in Wash­ing­ton and Ottawa. The aim is open dia­logue about dif­fer­ences and find­ing con­struc­tive solutions.

The glob­al chal­lenges also fac­ing the transat­lantic part­ners and their com­pa­nies are wide-rang­ing. Com­pa­nies on both sides of the Atlantic must rise to these chal­lenges. The cen­tral basis for this is com­mon eco­nom­ic inter­ests and fun­da­men­tal con­vic­tions that unite them.

“Transat­lantic rela­tions have under­gone var­i­ous chal­lenges in recent years. Now the EU and the Unit­ed States must once again pull togeth­er in the same direc­tion in order to mean­ing­ful­ly address major glob­al chal­lenges such as cli­mate change, but also to make the most of oppor­tu­ni­ties such as dig­i­tal­iza­tion for the good of our soci­eties. The EU‑U.S. sum­mit delin­eat­ed that the gov­ern­ments of the transat­lantic part­ners are ready to work close­ly togeth­er, as are Ger­man and Euro­pean busi­ness­es,” said BDI Pres­i­dent Siegfried Russ­wurm, chair­man of the TBI.

BdB President Hans-Walter Peters: "The pandemic has made it clear that global crises can only be overcome by working together. The Transatlantic Business Initiative offers an excellent platform for generating new impetus for dialogue between politics and business. This also applies to the financial sector: on both sides of the Atlantic, the same questions are being asked: how do we use momentum to finance the post-pandemic reconstruction and therein make the financial sector more sustainable and digital?"

BGA President Anton F. Börner: "The order of the day in transatlantic relations is more collaboration and less confrontation. The TBI makes a constructive contribution to significantly improving cooperation with our partners on the other side of the Atlantic. The United States and the EU must jointly tackle the major global challenges and no longer lose themselves in petty trade conflicts. Our common concern is that the promotion of transatlantic relations should once again be given a higher priority in Berlin and Brussels and thus, in the EU.
priority in Berlin and Brussels and thus, one that it deserves."

Four steer­ing com­mit­tees are planned as part of the TBI on the fol­low­ing top­ics: Trade and Invest­ment Pol­i­cy, Ener­gy and Cli­mate Pol­i­cy, Data and Dig­i­tal Econ­o­my, and Enter­prise and Finance. Top rep­re­sen­ta­tives from the busi­ness com­mu­ni­ty are active­ly involved in these steer­ing committees.

Press Contacts:
Jobst-Hinrich Wiskow
Head of Press and Public Relations Department
Federation of German Industries (BDI)
Phone +49 (3)0 20281565

Kerstin Altendorf
Press Spokeswoman
Federal Association of German Banks e.V. (BdB)
Phone +49 (3)0 1663 1250

André Schwarz
Press Spokesman
German Wholesale, Foreign Trade and Services Association (BGA)
Fon +49 (0)30 59 00 99 520

Christian Jekat
Press Spokesman
Association of German Chambers of Industry and Commerce e. V. (DIHK)
Fon +49 (3)0 20308 1639
Mail jekat.christian@dihk.d