Germany has suggested a reliable and sustainable legal framework in Bangladesh to attract foreign direct investment and setting up a special economic zone (SEZ) here for its entrepreneurs.
“There is ample scope for overseas, especially German investment in Bangladesh,” said Martin Biesel, German federal foreign office state secretary.
He arrived in Dhaka on a three-day visit as the leader of a business delegation Tuesday.
At a press conference following talks with Bangladesh’s Foreign Secretary Mijarul Quayes at state gust house Padma yesterday, Biesel said the issue of such economic zone came up for discussion.
On a query whether the visiting team finds a suitable atmosphere here to invite entrepreneurs of his country to make investment, he said an SEZ could cater to the needs of German companies.
Official data shows German FDI in Bangladesh surpassed $1 billion in 2009. Besides, Germany is Bangladesh’s second largest export market.
Lauding Bangladesh’s vibrant economy and lively society, Biesel said the country is moving in a right direction.
Germans have explored opportunities of investment in renewable energy, infrastructure and shipbuilding sectors, he further said.
Biesel is scheduled to attend a handover of two Bangladesh-made ships to a German company in Chittagong today.
He described such shipbuilding as a good example of Bangladesh’s diversified economy.
“We’re rediscovering our capacity through ship building,” Mijarul Quayes quipped.
On possible EU zero tariff benefit for Pakistani products and its adverse impact on Bangladesh’s exports to the trade bloc, the German team leader said since Pakistan economy faces a special situation after devastating floods, European Union considers providing Islamabad a chance to overcome the catastrophe.
Bangladesh’s foreign secretary admitted to the country’s challenges due to such duty-free access to Pakistan and said Dhaka is in talks with World Trade Organisation so that the waiver does not affect Bangladesh.
