These objectives include:
developing opportunities to ensure sustained economic growth and competitiveness with other economies
ensuring a high level of employment
strengthening small and medium-sized enterprises (SMEs)
promoting new technologies and innovation to maintain economic competitiveness
linking economic and ecological goals
expanding the worldwide division of labour and a free system of world trade
ensuring a secure energy supply at appropriate prices
Given these priorities and objectives, the essential task of the Federal Ministry for Economic Affairs and Energy is to shape the conditions that foster successful economic activity on the basis of personal and entrepreneurial freedom, competition and stability. The Ministry's legislative, administrative and coordinating functions in areas such as competition policy, regional policy, SME policy, energy policy, and external economic policy are geared to this task.
Germany's overall economic policy is grounded in the principles of the social market economy, and this approach has proven to be effective, particularly during difficult phases of economic cycles. It is especially important for a forward-looking economic policy to ensure sustained conditions for greater employment in Germany.