The German Desk Bangladesh recently opened in Dhaka as a one-stop resource for banking and other financial solutions for German companies and their local commercial partners in Bangladesh. Executive Director Ansgar Hütten of Tradewind, a leading German trade finance company with a liaison office in Bangladesh, participated in the panel to commence the desk.
The German Desk Bangladesh is a joint initiative of DEG, a Germany-based association for economic cooperation, Mutual Trust Bank, the German Chambers of Commerce and Industry (DIHK), and the German Federal Ministry for Economic Cooperation and Development (BMZ).
Acting as a single point of contact for German and local businesses, the German Desk Bangladesh provides access to financial support and the banking resources. The range of services offered by the German Desk extends from setting up accounts for financing trade and transaction banking, to credit lines or investment financing for local companies. In addition to serving as a financial resource, the desk is helping to bridge cultural and language gaps and to create close ties among the local bank, the local business community, and the German associations involved. German and Bangladeshi companies can benefit from the combined network of the different organizations comprised by the desk.
The desk is targeted towards German SMEs looking to invest in Bangladesh, and vice versa. Tradewind is helping to facilitate this mission through its full range of trade finance services, including non-recourse export factoring and supply chain finance, that are tailored to the needs of small and medium-sized businesses. With roots in financing the textile industry, Tradewind is well-attuned to the ins-and-outs of this sector. This industry experience is particularly valuable as textiles continue to be a leading export market in Bangladesh. The firm customizes its cash flow solutions based on each client’s location, product, and payment term. As part of its operations, Tradewind works alongside the client’s local bank to provide additional capital and streamline the funding process.
The “German Desk – Financial Support and Solutions” is the fifth installment of its kind globally. Tradewind is also a member of the German Desk Peru.