Trade with Germany growing fast

---

FE Report The trade between Bangladesh and Germany has been growing at an annual rate of 50 per cent due to the confidence and excellent relation between the two countries, Commerce Minister Faruk Khan said Thursday. "The volume of trade between the two countries is worth more than $4.0 billion. We export products worth $3.5 billion to Germany per year and Germany exported goods worth more than $0.5 billion to Bangladesh last year," he said while addressing the inaugural ceremony of German Trade Show 2011. Bangladesh German Chamber of Commerce and Industry (BGCCI) organised the three day trade show at Bangabandhu International Conference Centre in the city. The commerce minister said, the recent visit of Prime Minister Sheikh Hasina to Germany was successful as she met the government officials and business groups there. And the upcoming visit of the German President to Dhaka will be very significant in strengthening the bilateral relations between two countries. The German President is expected to arrive in Dhaka on November 28. Mr Khan added, "I am a little bit worried about the possibility of second economic recession across the globe. At the same time I am hopeful that our businessmen will be able to face the possible second economic meltdown with courage." BGCCI president Saiful Islam said, "Bilateral trade between Germany and Bangladesh has also increased by 50 per cent where Bangladesh has had a trade growth of 52 per cent and Germany has had a trade growth of 36 per cent." He said, Bangladesh also moved up from the position of 7th to 3rd largest exporter of ready-made garments to Germany last year. The BGCCI president said, "The economy of Bangladesh has reached the level of maturity and as such now we demand trade, not aid. The manufacturers of our country have slowly started to earn the respect of the world business community and Bangladesh has already penetrated into the high and middle market products segment." He added: "Bangladesh has also successfully entered into more sophisticated manufacturing such as electronics and automobile assembling and shipbuilding. The time has come for the world to recognise Bangladesh as an emerging market in the global economy." German Ambassador in Dhaka Holger Michael said, "Bangladesh has a lot of success stories in business. German people are very enthusiastic about Bangladesh. So information should disseminate through trade shows or website and it will enhance the connectivity between the business people of the two countries." He said: "We do not only have political and business cooperation, but we also have cooperation in other areas -- development cooperation in environmental, educational and cultural sectors." He mentioned the successful talks during the visit of Prime Minister Sheikh Hasina, Foreign Minister Dipu Moni and Commerce Minister Faruk Khan to Germany in the last few months. BGCCI vice president Sadaqat Hossain and Executive Director Daniel Seidl spoke, among others, at the inaugural function. After the inaugural function, Daily Star Editor Mahfuz Anam moderated a session titled 'Branding Bangladesh'. Speaking as the chief guest at the inaugural ceremony, Faruk Khan said, "Bangladesh already has branding in Germany and now we have to work to further improve the quality of our products." Organisers said, almost 70 top companies from Germany and Bangladesh are showcasing their offerings from diverse industries including RMG, shipbuilding, energy, IT, logistics and pharmaceuticals. There are around 100 stalls. The fair will remain open from 10:00 am to 8:00 pm until October 29. The organisers are expecting that more than 25,000 people will come to visit the three-day trade show.