Newly appointed German ambassador in Bangladesh Holger Michael has assured Bangladesh of providing technical support to adopt modern technologies in the industrial sector for attracting more investments, reports BSS.

"Adoption of technology is needed for Bangladesh to cope with the competitive world. Germany has a lot of expertise which could be shared with Bangladesh," said the new German envoy when he was welcomed by the German Chamber of Commerce and Industry (BGCCI) at a city hotel recently.

A host of businessmen welcomed Holger Michael, also a noted economist, saying that under the leadership of the 'goodwill ambassador', the relations between the two countries in terms of trade and commerce will get a new height in the days ahead.

Professor of Dhaka University and director of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Dr Moyeen presented the keynote paper on how the trade volume would be augmented identifying new areas.

Former president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwarul Alam Chowdhury Parvez, BKMEA President Fazlul Haque and executive director of BGCCI Mir Muniruzzaman were among the Bangladeshi business leaders who took part in a brief question and answer session at the reception.

"Germany accepts more change in economic policy in terms of trade and commerce and tax reform is the main areas of the change," said Michael.

President of BGCCI Saiful Islam said Bangladesh has become the second largest export destination of German importers as the balance of payment stood at US$ 2.8 billion in 2008 while it was 1.56 billion US dollar in 2007 led by RMG, fibers, textiles, leather and ceramic products.

Bangladesh is now concentrating on product diversification to German markets as around 90 percent Bangladeshi exportable products is readymade garment, said BGCCI president.

Bangladesh is struggling to come out of the LDCs but there is an image problem in the world, he said and urged the German government to help project Bangladesh's positive image in the world.

Former senior Vice President of Bangladesh Association of Software Information Services (BASIS) TIM Nurul Kabir said the German government is working with India for promotion of the IT sector between the two countries. The German government could also be benefited to a large extent by utilizing Bangladeshi IT professionals in Germany.