Bangladesh now the fastest growing market in Asia: German businesses

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The head of a German business delegation has witnessed the “tremendous transformation” of Bangladesh, and said it is now the “fastest growing” market in Asia.
Peter Clasen, Managing Partner of Wilhelm G Clasen, a major jute exporter from Bangladesh, was speaking to media on Thursday at the end of their five-day business visit from Sept 8.

“My first visit to Bangladesh dates back to the mid-1950s. Since then, the country has undergone a tremendous transformation. In particular, within the past decade, the economy has steadily grown making Bangladesh now the fastest growing market in Asia,” he said.

Clasen led a delegation of 23 CEOs and high-ranking business representatives who explored future business opportunities for German enterprises and to address key concerns faced by foreign investors.

Beyond already strong export industries like garments and jute, delegates represented sectors including construction, IT, interior design, shipping, tourism and environmental technologies.

German Ambassador in Dhaka Peter Fahrenholtz, who was also present at the briefing, said 60 German companies are currently present in Bangladesh. “Yet there is still huge potential for many more German businesses across various industries.”

He said several large German enterprises including BASF, Bayer, Commerzbank, DHL, Fichtner and Siemens have recently established a German Business Council.

During their visit, the delegation met Finance Minister AHM Mustafa Kamal, Foreign Minister AK Abdul Momen, and Prime Minister’s Economic Adviser Mashiur Rahman, among others.

They also visited Chittagong and met the chairman of the Port Authority, and visited the container terminal.

The masterplan for future expansions has been developed together with German Hamburg Port Consulting.

All delegation members who came to Bangladesh for the first time were “highly impressed by the dynamic market and untapped business opportunities”, they said in a statement.

Cedric Dumont, CEO of BAUER Bangladesh, a world-leading construction company from Germany, said they have been active in many Asian markets, and only one month ago opened office in Bangladesh.

“We see huge potentials in the booming construction market where German companies can contribute with high-quality and cost-efficient foundation and ground solutions for key infrastructure projects.”

The Ostasiatischer Verein (German Asia-Pacific Business Association) together with Deutscher Industrie- und Handelskammertag (Association of German Chambers of Commerce and Industry) organised this visit.
Source: https://bdnews24.com

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