Germans keen to invest in Bangladesh

From left, Shakhawat Abu Khair, new president of Bangladesh German Chamber of Commerce and Industry; Holger Michael, German ambassador to Bangladesh; Saiful Islam, outgoing president of the chamber, and Daniel Seidl, executive director of the chamber, poses after a meeting in Dhaka on Monday.Photo: STAR

Germany entrepreneurs want to invest in energy, transportation and infrastructure as they have experience in those sectors, said German Ambassador to Bangladesh Holger Michael on Monday.
He said German investment in Bangladesh is increasing as many companies are coming here for trade related services as well like quality control of export items.
The value of German investment in Bangladesh might cross the half a billion dollar mark, Michael said while he was briefing a group of journalists at his residence in Dhaka.
“But there are so many things to be done on the political front to attract more German investment into Bangladesh,” he said.
He said Germany will monitor Bangladesh's health, primary education and governance issues seriously after renewal of an agreement in June.
He said bilateral relations between Bangladesh and Germany has gone to a new height after the German president visited Bangladesh in November.
In the near future, the German chancellor might also come to visit Bangladesh as she received an invitation from Prime Minister Sheikh Hasina during her visit to Germany in October, he said.
The ambassador arranged the function at his residence to handover the charge of the Bangladesh German Chamber of Commerce and Industry (BGCCI) to the newly elected committee for the next two years.
Shakhawat Abu Khair, managing director of Robintex Bangladesh Ltd, was selected as the new president of the chamber.
David Hasanat, managing director of Viyellatex Group, and Shouvik Bhattacharya, managing director and chief executive of Siemens Bangladesh Ltd, have been selected as vice-presidents of the chamber.
At the function, Saiful Islam, the outgoing BGCCI president, said Bangladesh-German trade continues to grow from strength to strength and has now surpassed $4 billion despite challenges in the global economy.
He said the government needs to form a strong legal framework if it wants to attract more German investment in Bangladesh. Islam said BGCCI currently has 288 members.
Islam said trade between the two nations is in favour of Bangladesh because of strong readymade garment exports. Last year, Bangladesh's exports to Germany increased by 57 percent to $3.4 billion and imports grew by 48 percent to $691 million.
Bangladesh mainly exported RMG products, leather and leather goods and ships, while it imported capital machinery and vehicles and parts.
Branding Bangladesh positively in Germany and Europe would be the first task of the new committee, said the chamber's new president.