Germany has made a proposal to manufacture BMW and Mercedes Benz, world famous brands of luxury cars, in Bangladesh.
Finance Minister AHM Mustafa Kamal made the announcement after a high-level business delegation led by Peter Fahrenholtz, German ambassador to Bangladesh, paid a courtesy visit to his office on Monday.
The delegation discussed potential business sectors in Bangladesh.
Germany, by using its dynamic production system, assembles cars in Thailand. They will do the same in Bangladesh, said the minister.
"They will manufacture some parts of BMW and Mercedes Benz cars in Bangladesh, and will and bring some parts from abroad to be assembled here later," Mustafa Kamal told the media.
He also informed journalists that the German delegation will discuss the matter with the prime minister and then take the next step.
Expressing optimism, Mustafa termed it a very good proposal because Bangladesh would then not have to import costly cars.
Mustafa also said: "Another positive aspect of the proposal is their assurance that they will try their best to make sure Bangladesh continues getting the GSP (Generalised Scheme of Preferences) facility."
Calling Germany an old friend of Bangladesh, the finance minister also said Bangladesh enjoys good relations with Germany, and that they have invested in our country for a long time.
Apart from the automobile industry, German would also like to utilise our jute industry, he said, and added that jute is used for various purposes not only in manufacturing Mercedes Benz cars, but in almost all cars made by Germany.
The finance minister added that "This is a great proposal considering the present status of the jute industry. Jute was once the highest exported product from Bangladesh, but it has become quite difficult for us to manage the industry now."
The delegation was invited by the Association of German Chamber of Commerce and Industries in collaboration with the Asia-Pacific Business Association.
This delegation includes representatives from the garment, furniture, shipbuilding, environment technology, banking, and tourism sectors.