G7 Forum Best for Ending Iran Conflict and Mitigating Economic Threats, Says Germany
By Maria Martinez
Germany’s Position on G7 Talks and Global Economic Security
BERLIN, May 18 (Reuters) - The Group of Seven countries is the right forum for discussing how to bring a lasting end to the war in Iran, which along with the blockade of the Strait of Hormuz poses a serious threat to the global economy, German Finance Minister Lars Klingbeil said on Monday.
Klingbeil’s Participation in G7 Finance Meeting
Klingbeil will travel to Paris to join a meeting of G7 finance ministers and central bankers on Monday and Tuesday.
European Approach: Cooperation Over Confrontation
"Our path as Europeans remains clear: We rely on cooperation rather than confrontation," Klingbeil said. "We rely on partnerships, reliability, open trade, and the strength of the rule of law."
Building Economic Resilience in Germany and Europe
The minister said recent crises had underlined the need for Germany and Europe to become more independent and resilient, particularly in raw materials, energy and supply chains.
Expanding International Partnerships
Talks with Emerging Economies
He said there would also be talks in Paris with finance ministers from Brazil, India, South Korea and Kenya in a push to broaden international partnerships.
Germany’s Continued Support for Ukraine
Maintaining Focus Amid Middle East Crisis
The minister also said Germany would not allow the Middle East crisis to distract from Russia's war with Ukraine.
Signing of Double Taxation Agreement
Strengthening Economic Exchange with Ukraine
Klingbeil is scheduled to sign a double taxation agreement in Paris with his Ukrainian counterpart, Sergii Marchenko.
"This strengthens economic exchange and creates legal certainty," he said.
(Reporting by Maria Martinez; Editing by Edmund Klamann)
