BKMEA, BWA ink MoU to enhance bilateral business relations

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Federal Association for Economic Development and Foreign Trade (BWA), Germany have inked a Memorandum of Understanding (MoU) to establish cooperation between the two organizations for enhancing Bangladesh's export and bilateral business relations.

In presence of Tapan Kanti Ghosh, the Senior Secretary of the Ministry of Commerce,and Michael Schumann, BWA Board Chairman, Urs Unkauf, Federal Managing Director of BWA in Germany and Fazlee Shamim Ehsan, Vice President of BKMEA signed the MoU on behalf of their respective sides on Monday at Berlin BWA office, said a press release here today.

Tapan Kanti Ghosh is currently leading a delegation on an official visit to Germany. The delegation representing BKMEA where Mohammad Hatem, Executive President, along with four vice presidents: Fazlee Shamim Ehsan, Amal Podder, Mohammad Rashed, and Md Samsuzzaman are present.

The delegation is engaged in a series of high-level bilateral meetings with various federal ministries to enhance economic relations between the nations.

During the MoU signing ceremony, Tapan Kanti Ghosh expressed his optimism about the outcomes of these meetings, underscoring their significance in furthering bilateral trade relations and opening new doors for economic cooperation.

The discussions encompassed a wide range of topics including trade policies, investment prospects, and the exchange of expertise across various sectors, he added.

The commerce secretary said this visit and the subsequent agreements reflect the commitment of both Bangladesh and Germany to nurturing enduring and fruitful relationships that will contribute to the progress and prosperity of both nations.

Earlier, a momentous bilateral meeting took place between Tapan Kanti Ghosh and Michael Kellner, State Secretary of the German Federal Ministry of Economics and Climate Action (BMWK), at the German Ministry in Berlin.

The BKMEA delegation also took part in the bilateral meeting.

Tapan Kanti Ghosh mentioned the latest developments in Bangladesh including the graduation from LDC to Developing Country.

At present, EU regulation Bangladesh will enjoy three years of GSP after graduating to Developing Countries in 2026, Senior Secretary told his counterpart for extension of existing GSP for six years, he added.

As a big economy in Europe, Germany can play an important role regarding this, he added.

Kellner remarked on the success story that Bangladesh has become and the country's remarkable achievements.

He mentioned that the European Union is near the end of developing Due Diligence law and then the German law for due diligence will be adapted in line with the EU law.

Saiful Islam, Minister (Commercial) of the Bangladesh Embassy in Berlin, Germany coordinated the meeting.