Editorial, News & commercial office:
55/A, H M Siddique Mansion (Level-7), Purana Paltan, Motijhel C/A, Dhaka-1000. Phone: +8802226640056,
e-mail: [email protected], [email protected]
Businesspeople, investors and policymakers have stressed the need to move Bangladesh-Germany economic ties beyond one-way exports towards a partnership based on two-way trade, technology transfer, joint ventures and investment.
They made the remarks at a business and investment seminar titled “Beyond Textiles: Business Opportunities in Bangladesh” held at the Hamburg Chamber of Commerce in Germany to showcase Bangladesh’s growing capabilities beyond the ready-made garment (RMG) sector.
Around 40 German businesspeople, investors, policymakers and representatives of business and development organisations attended the seminar, according to a press release issued on Tuesday.
Speakers said the Bangladeshi and German economies could complement each other, creating new opportunities for trade and investment.
Delivering the keynote address, Bangladesh’s Ambassador to Germany Muhammad Zulqar Nain said Bangladesh could no longer be viewed solely as an economy dependent on RMG.
The country is evolving into an emerging hub for diversified manufacturing, technology and services, he said.
Although RMG remains the mainstay of Bangladesh’s export economy, rapid growth is taking place in sectors including engineering products, leather and leather goods, jute and jute products, pharmaceuticals, agriculture and food processing, electronics, light engineering and information technology.
Export growth in some emerging sectors has already exceeded 20%, with engineering product exports growing by around 21.8%, the ambassador said.
He also highlighted Bangladesh’s capabilities in newer areas such as machinery and components, artificial flowers and decorative items, as well as electric vehicle production, local mobile phone manufacturing and assembly, PCB/PCBA production, and advanced electronics and engineering.
The keynote address placed particular emphasis on semiconductors and chip design.
Bangladeshi engineers and technologists are providing high-value design and engineering services to the international semiconductor industry, Nain said.
He cited ULKASEMI, which employs more than 600 design engineers in Bangladesh, and the involvement of Bangladeshi engineers with international semiconductor companies as evidence of growing global confidence in the country’s capabilities.
This is helping Bangladesh move from labour-intensive manufacturing towards a high-tech, knowledge-based economy, he said.
Ch Md Golam Rabbi, commercial counsellor at the Bangladesh Embassy in Berlin, said the embassy had been conducting sustained economic diplomacy initiatives to showcase Bangladesh’s trade and investment potential across Germany.
Six similar events have been organised over the past 18 months, and the Hamburg seminar was part of the initiative, he said.
“There is ample scope for further cooperation and collaboration to enhance trade and investment opportunities,” Rabbi said, highlighting Bangladesh’s strategic location, access to a regional market of around four billion consumers, and trade and investment incentives.
During a panel discussion, German business representatives exchanged views on investment potential, practical challenges and market-entry experiences.
Participants expressed interest in Bangladesh’s large domestic market, manufacturing capabilities, infrastructure development, and progress in renewable energy and technology-driven sectors.
Speakers also stressed the importance of projecting a positive image of Bangladesh through mainstream media in both countries.
Participants included representatives of trade bodies, an investment authority, consultancies, private companies and a federal ministry, including Barbara Schmidt-Ajayi of the Hamburg Chamber of Commerce, Ines Budarick of OAV, Mareen Haring of German Trade and Invest, and Barbara Schafer, head of the South Asia Division at the Federal Ministry for Economic Cooperation and Development (BMZ).
Also taking part were Adelina Papenburg of Euler Hermes Aktiengesellschaft, Matthias Koster of PricewaterhouseCoopers GmbH, Rudigar Schroder of Alton’s Germany GmbH, Thomas Bressler of WGC-Holding GmbH and GerBan Fibres Ltd, and Christina Prieser of Hamburg Port Consulting GmbH.
https://thedailyexpress.news/news/business/1f1c18b9-16d7-6280-81ac-8fed305de8a9