Bangladesh, Germany, Sweden focus on boosting trade, investment

Commerce Minister Khandakar Abdul Muktadir held separate meetings with the Ambassador of Germany, Achim Tröster, and the Ambassador of Sweden, Nicolas Weeks, on Sunday at his office in the Secretariat in Dhaka.

The meetings focused on expanding bilateral trade, increasing investment, and strengthening overall economic cooperation between Bangladesh and the two European countries.

During the discussions, the commerce minister said Europe remains one of the main destinations for Bangladesh’s exports. He emphasised that enhancing bilateral trade cooperation would benefit all sides.

He also noted that certain non-tariff barriers exist in trade with European Union countries and said the ministry has already initiated discussions with relevant government bodies to address these challenges.

The minister invited Germany to invest in Bangladesh’s light engineering, textile, and leather sectors. He added that the government has undertaken multiple initiatives to create an investment-friendly environment, highlighting that foreign investment is crucial to generate employment for the 2 to 2.2 million people entering the workforce each year.

Ambassador Tröster said Germany is keen to further strengthen trade relations with Bangladesh. He expressed interest in working on skills development in market-oriented sectors and in developing potential markets. He also emphasised the importance of ensuring a level playing field in business and trade.

In a separate meeting, Ambassador Weeks discussed ways to enhance bilateral trade, investment, and economic cooperation between Bangladesh and Sweden.

The commerce minister said increased investment would further strengthen bilateral ties between the two countries. He noted that necessary steps have already been taken to remove non-tariff barriers with Sweden, which is expected to facilitate future growth in trade and investment.

Ambassador Weeks expressed Sweden’s strong interest in expanding trade with Bangladesh, particularly in the telecommunications sector, where Sweden is a global leader with significant investments worldwide. He also conveyed interest in investing in Bangladesh’s telecom industry.

Additional Secretary (export) of the Ministry of Commerce, Md Abdur Rahim Khan, was also present at the meetings.