German economic ministry high official discusses bilateral trade and investment with Bangladesh

Until recently Bangladesh could not draw much German attention for trade and investment. Increasing bilateral trade volume and recent high-profile official visits from the both countries indicate positive chnages.

Recent (2 and 3 February 2011) official visit of Mr. Hans-Wolfgang Busch, Director for Economic Relations with Asia of the German Ministry of Economics and Technology, to Bangladesh highlights German interest in Bangladesh German business relationship.

During his two-day visit to Bangladesh, second leg of his South Asian regional mission, Mr. Busch will discuss bilateral trade and investment issues with the Bangldeshi government and business leaders. From Bangladesh he is scheduled to travel to Sri Lanka.

He will explore potentials and constraints for further development of the bilateral economic relations. Mr. Busch is also scheduled hold talks with representatives of the Ministry of Commerce, Ministry of Shipping, the Board of Investment and the Central Bank to discuss framework conditions as well as on specific investment proposals. The visit comes in the wake of a German business delegation lead by German State Secretary Mr. Martin Biesel who visited Bangladesh last November 2010.

German-Bangladesh economic relations have seen a dynamic development in 2010 as recent data show the overall trade volume between the two countries from January to November 2010 increased by almost 18 percent compared with the same period of 2009, and reached €2.5 billion.

During the same period, the value of exports from Bangladesh to Germany has increased by 15 percent to €2.15 billion.

German exports to Bangladesh increased by 35 percent to €360 million and German machinery exports to Bangladesh witnessed a 73 percent increase over the last year.

Germany is the second largest export market for Bangladesh. It is an open market with free access for Bangladeshi goods, without any import tariffs. -: END :-