Muktadir seeks German investment in leather, shipbuilding, light engineering

Industries Minister Khandakar Abdul Muktadir has  sought German investment and technology cooperation in promising industrial sectors, including leather and leather goods, shipbuilding and ship recycling, and light engineering, aiming to transform these sectors into export-oriented, environmentally sustainable and internationally competitive industries.

"The government wants to deepen Bangladesh-Germany economic relations beyond simply increasing the volume of bilateral trade," he said.

The minister made the call during a meeting with German Ambassador to Bangladesh  Dr. Rüdiger Lotz. at the Industries Ministry in Motijheel here today.

The minister said there are opportunities to make bilateral economic relations deeper and more diversified through product diversification, value addition, quality improvement and technology transfer.

Referring to the success of Bangladesh's readymade garment sector in international markets, Muktadir said similar achievements could be attained in leather, shipbuilding, light engineering and other industrial sectors.

He stressed the importance of international standards, compliance, modern technology and skilled human resources to realise the potential of these sectors.

On the leather industry, the minister said the sector has huge export potential, but ensuring environmental standards and compliance is crucial.

Reducing water consumption, increasing the use of clean energy and adopting modern environment-friendly technologies could enhance the sector's competitiveness, he said.

"If international standards can be ensured, Bangladesh's leather and leather goods can secure a stronger position in the global market," Muktadir said, adding that German technology and investment could play an important supportive role in this regard.

Highlighting the prospects of shipbuilding and ship recycling, he said the sectors contribute not only to foreign exchange earnings but also to the country's steel, construction and related industries.

However, he stressed that their expansion should follow international standards for environmental protection and workplace safety.

"Germany's experience in advanced technology, safe production systems and environment-friendly industrialisation is important for Bangladesh," the minister said, adding that there is significant scope for German investment and technological partnership, particularly in shipbuilding and ship recycling.

The German ambassador praised the progress and prospects of Bangladesh's industrial sector and described the success of the country's readymade garment industry as an important example of its international competitiveness.

He expressed Germany's interest in further expanding cooperation in promising sectors, including leather, shipbuilding and ship recycling.

The ambassador also expressed hope for stronger cooperation between the two countries in environment-friendly production, technology, skills development and sustainable industrialisation.

The meeting also discussed expansion of bilateral trade and investment, technology transfer, industrial partnerships and increased high-level visits between the two countries.

Senior officials from the Industries Ministry and relevant agencies, as well as representatives of the German Embassy, attended the meeting.

-AJM