Australia and Germany have announced plans to increase co-operation and collaboration in the resource and energy sectors.
Meeting in Canberra today, foreign minister Kevin Rudd and German foreign minister Guido Westerwelle, with Martin Ferguson, signed a Joint Declaration on Energy and Resources Co-operation.
This Joint Declaration translates into practical and beneficial work together,” Rudd said.
“It forms the foundation to deepen trade and investment opportunities for Australian and German companies in the resources sector as well as diversifying investment opportunities within third countries.
“Germany, as the fourth largest economy in the world, is an important partner for Australia in promoting free, open and transparent markets in energy and resources; and a major potential investor in Australia’s resource sector,” he added.
Germany is well known for its coal mining and steel manufacturing history.
Between 2009 and 2010, German investment into exploration and development in Australia came to around $75 million.
“Australia and Germany are both committed to exploring research and development opportunities and encouraging investment across clean energy, minerals and low-carbon technology sectors,” Ferguson said.
"By joining forces we can work together to create highly skilled opportunities for the future to the benefit of both our countries.”
Image: Kevin Rudd w/ Guido Westerwelle.