http://nation.ittefaq.com/issues/2008/11/07/news0350.htm
Bangladesh produces electronic components for Mercedez, BMW: German Trade Show 2008 inaugurated
BUSINESS REPORTER
Bangladesh has entered the global automobile industry through the manufacturing of highly sophisticated electronic components of globally renowned brands of automobiles like Mercedes Benz, BMW, Bugatti, Porche and Maybach.
Draxelmaier, a renowned German company which manufactures electronic components of car interiors and wiring harnesses for the premium brands of cars has already set up a company, called ‘Draxelmaier Bangladesh.’ This company will outsource computer-aided designs and eventually they will move into forming a wiring harness manufacturing plant in Bangladesh.
This was disclosed by Saiful Islam, President of Bangladesh German Chamber of Commerce and Industry (BGCCI) yesterday at the inaugural ceremony of ‘German Trade Show-08′ at Bangladesh China Friendship Convention Centre.
Bangladesh has exported 955.96 million Euro to while imported 155.36 million Euro from Germany in the first seven months of this year. Bangladesh mainly export readymade garments, frozen foods, and jute products to Germany.
Among others, Hossain Zillur Rahman, Commerce Adviser, Frank Meyke, Ambassador of Germany, Kamaluddin Ahmed, Executive Chairman of Board of Investment, Bangladesh, Annisul Haq, President of Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), and Saria Sadique, Convener of the exhibition were also present at the programme.
Hossain Zillur said the prospect of Bangladesh is bright in business and drawing foreign investment in the country.
Mentioning seminars and trade shows that are going on in the country in recent as advent of change the commerce adviser hoped the next elected government would welcome and tune with the change.
Zillur opined Bangladesh would turn into middle-income country if the next elected government could retain the changes now going on. The trade show would increase foreign investment in the country.
Frank Meyeke said “This is first ever German trade fair in Bangladesh.It is not only a big milestone for BGCCI, but it also shows that business relations between Germany and Bangladesh have considerably strengthened over the previous years and are significant indeed.”
As member country of the European Union Germany is an open market with free access for Bangladesh goods without any import tarrifs. Bangladesh enjoys a trade surplus worth 1.3 billion euro with Germany. Over the last five years Bangladesh’s exports to Germany have annually increased by between 20 to 30 per cent.
