Germany’s Klingbeil secures raw materials and forges new alliances ahead of G20 summit
German Economy Minister Lars Klingbeil has completed a two-nation tour to strengthen economic ties and address supply chain vulnerabilities. His visits to China and Singapore focused on reducing reliance on critical raw materials, while he also prepared to represent Chancellor Friedrich Merz at the upcoming G20 summit in South Africa.
The trip comes as Germany seeks new partnerships and investment models, particularly in light of recent trade tensions with China.
Klingbeil began his journey in China, where he secured a pledge for stable future supplies of rare earths and critical raw materials. The agreement follows concerns over China’s use of market dominance as a political tool, highlighted by the Nexperia case.
From China, he travelled to Singapore, a country with which Germany has maintained a strategic partnership since 2024. There, he met with the trade minister, prime minister, and president to explore deeper cooperation. A key focus was Singapore’s sovereign wealth fund, which Klingbeil views as a potential blueprint for Germany’s own planned state-backed investment fund.
His next stop is South Africa, where he will attend the G20 summit on behalf of Chancellor Friedrich Merz. Originally, Federal Health Minister Nina Warken was set to represent Germany, but Klingbeil will now take her place. He has expressed disappointment over the absence of the U.S. at the event but remains optimistic about engaging with other nations to build new alliances.
Klingbeil has repeatedly emphasised the summit as a chance to diversify supply chains and foster economic resilience beyond traditional dependencies.
The minister’s tour has yielded concrete commitments from China on raw material supplies while deepening ties with Singapore. At the G20 summit, he will push for broader cooperation to reduce economic vulnerabilities.
Germany’s efforts to model its investment fund after Singapore’s approach could reshape its long-term financial strategy. Meanwhile, the absence of the U.S. at the summit leaves room for other nations to take a leading role in trade discussions.
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