‘RMG export to Germany to grow substantially despite global economic meltdown’

Ready-to-wear garment exporters Monday said, Bangladesh exports of RMG items to Germany will increase significantly at a time when the world became upset due to the financial recession, thanks to the government’s measures to face the economic meltdown.
Speaking at a workshop on ‘Ways to Boost up RMG Export to Germany Under Present Recession’, they said, Bangladesh has earmarked 2.76 billion Euro export target this year to Germany which was 1.76 billion last year.
Bangladesh German Chamber of Commerce and Industry (BGCCI) organized the brainstorming workshop in cooperation with German Technical Cooperation (GTZ) in its conference room here.
German Ambassador to Bangladesh Frank Meyke spoke as the special guest while Additional Commerce Secretary Mustafa Mohiuddin as special guest on the occasion. BGCCI President Saiful Islam gave the welcome speech.
President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlul Hoque, Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassain and Vice president of Export Promotion Bureau (EPB) M Shahabullah took part in the inaugural session as designated discussants.
Frank Meyke, who is expected to leave Bangladesh this month on completion of his assignment, said export from Bangladesh to Germany has been growing steadily over the last few decades and this export growth is surprisingly increasing this year in the wake of the global economic crisis.
He said, around 90 percent Bangladeshi-made goods being exported to Germany mostly woven and knitwear items while German export machinery and chemicals to Bangladesh.
Referring to the German-Bangladesh Trade as an important field of bilateral relations between the two countries, the German Envoy expressed the hope that trade relation will continue to grow through various promotional activities in trade and commerce in the coming days.
Bangladeshi exports to Germany has increased by 27.5 percent during the last four months this year compared to the identical period of last year, he said.
Appreciating the government’s recent promotional steps including public- private partnership regulatory reform measures and special economic zones, he said, German investors will feel encourage to invest in Bangladesh.
Mustafa Mohiuddin described the global economic recession as a threat to the developing countries in terms of economic prosperity and said, Bangladesh is still remained out of purview of the recession impact following remedial measures taken by the government to deal with it.
M Shahabullah said, the country has fixed US$ 16.3 billion export target this year, which is up to the satisfactory level compared to last year. Till July this year, he said, the export target increased by 12.7 percent more than the estimated target.

BSS, Dhaka/The Bangladesh Today