Berlin, October 24, SPA -- Chancellor Angela Merkel presented her new coalition agreement on Saturday, saying it showed that Germany could look with confidence into the future. "I believe we will be a good team," she told a joint press conference with Guido Westerwelle, head of her new political partner, the pro-business Free Democrats (FDP). The chancellor"s Christian Democrats, its Bavarian sister party CSU and the FDP cemented their coalition after three weeks of negotiations that ended in the early hours of Saturday, according to a report of DPA. The deal, which comes a month after Merkel"s conservatives and the FDP won a parliamentary majority in a general election, paves the way for a new centre-right government to take office next week. Key points of the agreement are 24 billion euros (36 billion dollars) in tax cuts, an overhaul of healthcare funding and a reduction in compulsory military service from nine to six months. "We will not increase taxes or contributions, but will concentrate on growth," Merkel said, adding that new legislation would be introduced later this year with the aim of accelerating growth. She said next year and 2011 will be decisive in combating the economic crisis that has engulfed Germany, along with many other countries in the world. --SPA --SPA 13:38 LOCAL TIME 10:38 GMT www.spa.gov.sa/712043