VDMA: Relief following Macron’s election victory

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Tremendous relief exists in the mechanical engineering industry that the pro-European sentiments prevailed in France.

Carl Martin Welcker, President of the VDMA, comments on the results of the French presidential election:

“Tremendous relief exists in the mechanical engineering industry that the pro-European sentiments prevailed in France. Any other result would have caused immeasurable damage for society and the economy in Europe. Emmanuel Macron’s election victory represents an opportunity that Europe must now take advantage of. With Macron, Germany has gained a partner with whom to push forward the necessary reforms within the EU. We hope that the Franco-German axis will function better again in future.”

Emmanuel Macron’s election victory represents an opportunity that Europe must now take advantage of.

The German mechanical engineering sector has close economic ties with France. France was the third-largest export market behind the USA and China in 2016 with an export volume of EUR 10.2 billion. In turn, France delivered mechanical engineering products valued at EUR 4.4 billion to Germany, which ranks the country in fifth place among the countries of origin for German imports. Overall, the EU is of outstanding importance to the German mechanical engineering sector: a volume of EUR 72.5 billion (2016) means that nearly one-half of all German machinery exports are shipped to other EU countries.