News from Berlin

Foreign Minister Steinmeier Signs Raw Material Agreement With Peru

July 14th, 2014

News from Berlin – Today, 14th of July German Foreign Minister Steinmeier met his Peruvian colleague, Foreign Minister Gonzalo Gutiérrez Reinel to sign a cooperation agreement on raw material, industry and technology. Whereas the main purpose of the meeting was to deepen relations between the two countries, particular emphasis was put on economic partnership. The two foreign ministers were accompanied by Rainer Baake, German Secretary of State of the Ministry of Economy and Energy.

Today’s agreement has been the third such partnership signed by Germany since the former government started negotiations in the framework of its raw material initiative in 2010. After Kazakhstan and Mongolia; now Peru, as a significant producer of copper likewise counts as an important raw material exporter to Germany. Plans for a partnership started one year ago when non-governmental organizations also had a chance to express their concerns and expectations regarding the content of the agreement.  

The goal of the cooperation is to assure sufficient supply for the German industry since the situation on the raw materials market has been tense given China’s worldwide attempt to secure stocks for its own industry. According to the agreement ecological and social standards will be taken into consideration during mining activity. Both countries are supporting a transparency initiative for the sector, which can be seen as an important contribution to the fight against corruption in raw material-rich countries.

The agreement contains regulations regarding joint utilization of resources; environmentally sound decommissioning of mines and construction of new mining facilities, among others. Germany added that it will be committed to consult its Peruvian colleagues concerning mining issues.

News from Berlin – Berlin Global