Mayor of London strengthens capital's ties with German businesses

London is said to be strengthening its trade and investment links with German cities, following the news that Sadiq Khan’s promotional agency has opened its first office in Berlin.

The new London & Partners hub will provide support for German companies looking to setup or expand in the UK capital, as well as provide advice for London companies looking to do business in Germany.

Today (November 12), the mayor of London is in Berlin where he has been meeting with senior business and political leaders, aiming to demonstrate that London is open to business and collaborations with German cities.

Germany is said to be an important market for trade and investment with London and the UK. It is the fourth largest source of foreign investment into London, with German businesses creating over 4,500 jobs in the city over the past five years.

Some of the largest German companies to invest in London over that time period include engineering giant Siemens, Deutsche Bank and Lidl.

Mayor of London, Sadiq Khan, said: “London and Berlin are two of Europe’s leading hubs for technology and the creative industries with lots of opportunities for collaboration.

“I am here in Berlin to make it clear to German business leaders that London remains open to investment and talent from Germany. The opening of the London & Partners office in Berlin will make it even easier for companies from both cities to do business.”

London is also looking to build even stronger links with other German cities. In October, London’s deputy mayor for business Rajesh Agrawal led a fintech trade mission to Frankfurt, while London & Partners’ CEO Laura Citron accompanied a delegation of London creative businesses to Hamburg last month.

Last year, London’s Deputy Mayor for Business, Rajesh Agrawal, led a trade mission to Berlin involving 15 of London’s fastest growing businesses, helping them to explore investment and expansion opportunities in the German capital.

Following the visit a number of the companies have successfully entered the German market including Ppoperty technology firm, WiredScore and startups rating agency, Earlymetrics.

Knut Hechtfischer, founder of Berlin-headquartered Ubitricity with an office in Shoreditch, added: “Much like Berlin, London is a hot bed for innovation. With strengths in developing smart cities technology, it was a natural place for us to expand our operation in the UK market.

“The creative energy and vibrancy of an area like Shoreditch is similar to the startup scene in Berlin and it has made London feel like a home away from home for our business.”

Berlin is becoming an increasingly attractive destination for London companies looking to expand into Germany and mainland Europe, with latest data showing it was the number one source city for foreign direct investment into Berlin over the past five years.