Economic Reporter :
Bangladesh-German Chamber of Commerce and Industry (BGCCI) arranged an important business event on “National Budget for fiscal year (FY) 2022-23 Implications on Trade & Commerce” on 29 June 2022.
The event was attended by the German Ambassador in Bangladesh Achim Tröster and Md. Mosharraf Hossain Bhuiyan, Bangladesh Ambassador in Germany as guests of honor. At the event, the keynote speaker was M. Humayun Kabir FCA, CEO, Shinepukur Ceramics and Director, BGCCI.
He highlighted the impact of budget on trade and commerce and other aspects.
Ibnul Wara, MD of Austan Ltd. and Saad Nusrat Khan, MD of Audi Bangladesh stressed on the tax benefits to leather exporters and to promote electric cars for future generations. Tarun Patwary, Sr. VP and Muin Uddin Mazumder, Sr. VP of BGCCI gave the welcome remarks and vote of thanks respectively. BGCCI Executive Advisor & CEO Shahed Akhtar chaired the event.
German Ambassador Bangladesh Achim Tröster in his remark stated the prolong German-Ukraine war, energy crisis and increasing inflation are likely to rein in Bangladesh’s present export momentum to Germany in the coming days,
He referred to the inflation rate in Germany has hit a 50-year high of 8.00 per cent, according to new figures from the Federal Statistical Office. Prices of goods and services rise once again.
“High inflation and increasing energy price will reduce purchasing power of the German consumers, and thereby, prompting them to spend less in buying consumer goods like readymade garments and leather. He added that amid the Russia-Ukraine war, Bangladesh’s export earnings in May 2022 hit a nine-month low to $3.83 billion, 1.64 per cent lower than that of the earnings target of $3.89 billion set by the government, according to the Export Promotion Bureau data.
