Dhaka urges Berlin for more investment

30 September 2011, 18:00 PM

Unb, Dhaka

Commerce Minister Faruk Khan has requested the German businesspeople to import more from and invest in Bangladesh. He made the request at a meeting on Thursday with representatives of AVE, the Foreign Trade Association on German Retail Trade in Germany, according to a message received here yesterday. Khan pointed out that even though the garment sector in Bangladesh is very successful there are also plenty of opportunities in other sectors such as pharmaceutical and shipbuilding. In 2010, Bangladesh advanced to the third largest supplier of garments in Europe. Germany is the second largest export market for products from Bangladesh worldwide. With a trade volume of US$4 billion Bangladesh has developed as an important partner to the German economy. “This trade is going to continue as business strategists expect an increased relocation of production volume from China to Bangladesh,” Khan said. Apart from the textile industry, which has been the driving force for the economic development, the country produces high quality leather goods and jute products, he said. “An emerging industry sector is shipbuilding. In the year 2011, ten ships will be delivered to Germany alone and the current order volume continues to increase.”