Governor Abbott Strengthens Economic Ties with Australia and Germany

Governor Abbott Strengthens Economic Ties with Australia and Germany

Governor Greg Abbott held significant meetings at the Texas Capitol yesterday, hosting Australian Ambassador to the United States Dr. Kevin Rudd and German Minister for Economic Affairs, Labour, and Tourism of Baden-Württemberg Dr. Nicole Hoffmeister-Kraut.

The discussions primarily focused on enhancing Texas’ international economic ties with Australia and Germany, underlining Texas as a prime destination for global business ventures.

In his meeting with Ambassador Rudd, Governor Abbott emphasized the burgeoning economic connections between Texas and Australia, citing the relocation and expansion of Australian energy, biotech, and artificial intelligence companies to the state. The Governor highlighted Texas’ dominant position in the energy sector, particularly in oil, gas, wind-power generation, and utility-scale solar production. The importance of collaboration in the semiconductor industry for national security interests was also stressed.

Later, Governor Abbott met with Minister Hoffmeister-Kraut to strengthen the economic bond between Texas and Germany. He praised Texas’ conducive business environment, particularly in critical industries like AI, renewable energy, and auto manufacturing. The significance of continued partnership in the semiconductor industry for national security was reiterated, alongside discussions on how Texas’ diverse energy strategy could support Germany’s energy requirements, especially with its expertise in LNG exports.

The economic significance of both Australia and Germany to Texas was underscored, with trade figures indicating robust partnerships. In 2023, Texas’ trade with Australia amounted to $4.2 billion, making Texas the third-largest exporter to Australia among U.S. states. Australian investments in Texas over the last decade are expected to create over 4,000 jobs. Meanwhile, Texas’ trade with Germany totaled $18.9 billion in 2023, with Texas being the top exporter to Germany among U.S. states. German investments in Texas are projected to generate nearly $12 billion in capital expenditures and over 12,800 jobs.