GABA Hosts LAX Tour and Business Talks
Enlarge image Consulate team, l-r: interns Amy Konietzko, Axel Zeissig and Caroline Lauberbach with Consul Klaus Fimpel. (© Germany.info/Los Angeles) The German American Business Association (GABA) hosted a unique behind-the-scenes tour of Los Angeles International Airport (LAX) on March 19, followed by presentations on international trade, and Germany’s role as a leading gateway to European markets.
The tour provided participants with interesting background on the airport’s infrastructure, historic developments, and major new expansion projects. Ranked sixth busiest airport in the world for passenger travel and thirteenth busiest for cargo, LAX is a vital hub of international trade and passenger traffic.
After the tour, participants headed to the Flight Path Museum, where, with a panorama of the airport serving as a backdrop, they heard opening remarks by GABA Chairman Bernd Steinbrunner, and from Treasurer and moderator of the event, Wolfram Doelker, who underlined the importance of exports for the United States economy. Currently, exported goods account for 12.6% of the U.S. Gross Domestic Product (GDP). He spoke about the recently launched export initiative by the U.S. government to significantly raise the export quota. He also pointed out the importance of Europe being the largest coherent market in the world.
Enlarge image VW Beetles arrive in Los Angeles. German cars account for the top import from Germany to the greater Los Angeles area. (© Volker Corell) Joyce Sloss, representing Los Angeles World Airports (LAWA), provided an overview of LAX’s cargo services and the exchange of goods, with Germany the only European country among the Top 10 trading partners for Los Angeles County. She said, the top exports to Germany were aircraft, precious metal and machinery, and the top imports to the Los Angeles area from Germany were motor vehicles, medicine and motor vehicle parts.
On behalf of the German Consulate General, Klaus Fimpel, Consul for Economic and Business Affairs, gave reasons why Germany is an advantageous business partner, citing its stable market conditions, solid infrastructure, high productivity rate, skilled labor force, and excellent access to other European countries.
Dr. Lucie Merkle, Executive Director, Bavarian U.S. Offices for Economic Development.
(© Germany.info/Los Angeles)
Dr. Lucie Merkle, Executive Director, Bavarian U.S. Offices for Economic Development, presented an economic profile of Bavaria, pointing out that with its successful industrial sectors like automotive, electronics and biotech, the region offers outstanding market conditions for foreign entrepreneurs. She also described the consulting and networking services available from the Bavarian U.S. Offices for Economic Development to help foster and strengthen economic ties with California.
Specialists from BridgehouseLaw provided helpful information on business compliance, investment and tax-related issues as well as gave an informative overview of the legal and fiscal framework in Germany. As all of the experts had international degrees and years of experience, they were well able to compare the different economic systems and provide information on the different markets specialities. Over the years, Germany has significantly improved its investor ratings, providing a more friendly business infrastructure for foreign investors.
The discussions concluded with entrepreneur Lorie Kim telling how she had put the German investor environment to the test. Looking to introduce her own TV channel with new content, she found Germany the perfect location to enter the European market to launch her business venture.
The GABA event with its vast range of topics and expert discussions, provided participants with a comprehensive overview of Germany’s many advantages as a potential marketplace for foreign investors.