U.S. Commerce Secretary Gary Locke today met with Germany’s Minister of Economics and Technology Rainer Bruederle to discuss the importance of small- and medium-sized enterprises (SMEs) to both countries’ economies and the need for continued economic cooperation. This was their first meeting.
Since taking office in October, Minister Bruederle has stressed the importance of SMEs to the German economy. Locke and Bruederle shared views on offering financial assistance to these businesses and discussed how American Recovery and Reinvestment Act investments are saving jobs, supporting new job creation and helping to spur long-term economic growth.
“Assisting small- and medium-sized enterprises is critical to getting the U.S. economy moving again,” Locke said. “During the last three decades, startups have accounted for nearly all increased employment in the American private sector.” Locke and Bruederle also addressed the role of the Transatlantic Economic Council.
“The Transatlantic Economic Council allows the United States and European Union to move toward greater economic cooperation, which will help our economies recover from the global recession,” Locke said.
Source: U.S. Department of Commerce
