New German industry office opens in Colombo

An office titled the Delegation of German Industry and Commerce in Sri Lanka was opened in Colombo on Tuesday with Malik Samarawickrama, Minister of International Trade; Dr. Martin Wansleben, CEO, Association of German Chambers of Commerce and Industry and Jorn Rohde, German Ambassador in Sri Lanka, in attendance.  
Dr. Wansleben said that there is a huge growth potential for German companies in Asia and the Sri Lankan market will open up even more opportunities for German industry and commerce. With the opening of this office, their network of German Chambers of Commerce around the world will grow to 140 offices in 92 countries.
He indicated that the annual growth of Sri Lanka German economic relations is 5 per cent and with Sri Lanka becoming a maritime hub across Asia, Africa and Europe, Sri Lanka’s exports to Germany grew by 13 per cent in 2017. German exports grew by 81 per cent to over 570 million Euros in 2017 reaching a total bilateral trade volume of more than 1.26 billion Euros.
Sri Lanka raises more interests, he said, for German sourcing in the sectors of food and textiles. He said that German foreign direct investment in Sri Lanka amounts to around 170 million Euros, listing Sri Lanka in a global approach among countries number 86 and ranking 3rd as a target location in South Asia after India and Pakistan.
The establishment of the Delegation office in Colombo is supported by the German Ministry for Economic Affairs and Energy and coordinated by the Association of German Chambers of Commerce and Industry (DIHK) and the Network of German Chambers of Commerce Abroad (AHKs).
The head of the New Delegation of German Industry and Commerce in Sri Lanka is Andreas Hergenroether. He has been working for the organization for 20 years and headed the offices in Algeria, Saudi Arabia, Taiwan and Egypt before coming to Colombo. (QP)