Germany wants to invest in energy, shipbuilding

http://www.newstoday.com.bd/index.php?option=details&news_id=45730&date=2011-11-30

Germany wants to invest in energy, shipbuilding

German entrepreneurs expressed interest to invest in solar energy, shipbuilding and infrastructure in Bangladesh ensuring a win-win situation for both sides, visiting German business delegation leader Dr Karl Ernst Brauner said in the city on Tuesday UNB.

“We’ve been here for a long-term trade relationship. We want to deepen our relationship,” he told a luncheon meeting at Ruposhi Bangla Hotel in the city.
He, however, wants Bangladesh to overcome the shortcomings in its physical infrastructure.

Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) hosted the meeting chaired by its president AK Azad.

German Bangladesh Chamber of Commerce Industry president Saiful Islam, FBCCI senior vice president M Jashim Uddin and FBCCI directors, including delegation members and Country Manager of DHL Global Forwarding M Nooruddin Chowdhury, were present.

Addressing the function, Brauner, also Director of the Department of Foreign Trade Policy, Germany said, “This visit is not an ending point, it’s rather a beginning of the long process of further cooperation…the visit is not a coincidence.”

He said Bangladesh has a unique society and it is a Muslim, secular and democratic country, and they want to strengthen bilateral relations with Bangladesh.

Speaking on the occasion, FBCCI president AK Azad said, “We had a long discussion with the German trade delegation and we’ve cleared many things.”

He said the visiting delegation has offered investment of US$ 100 million instantly with more investment in the coming days.

Referring to German President’s recent interview with the Bangladesh media, Azad said Germany is eager to expand its investment in Bangladesh’s infrastructure, urban development and eco-friendly energy.

“Dhaka and Berlin can enhance cooperation in mitigating the impact of climate change, an area in which Bangladesh plays a very important and constructive role,” he said quoting the German President.

He mentioned that Bangladesh exported commodities worth US$ 11.648 billion to European Union countries in 2010-2011 which was 50.82 per cent of the total export earnings.

“During the period, Bangladesh’s export to Germany was US$ 3438.70 million against its import of US$ 692.21 million,” he said laying emphasis on enhancing bilateral trade.

To continue Bangladesh’s current growth, Azad said, it needs US$ 28 billion more investment under the Public Private Partnership (PPP).

“Germany’s investment in Bangladesh was about US$ 80 million in 2010-2011 fiscal. We hope to see increasing investment in the future,” he said.

BGCCI president Saiful Islam said some 70 German companies have shown interest to do business and make investment in Bangladesh.

He urged the government to ensure one or two special economic zones in the country where German companies can invest.

Saiful also underscored the importance of finalising the proposed Economic Zone Act soon.

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