Bavaria hosts Togo

27/05/2011
Bavaria hosts Togo

An Economic day devoted to Togo took place on Thursday in Munich by the initiative of the Chamber of Commerce and Industry of Munich and Bavaria (IHK). The Prime Minister, Gilbert Houngbo (photo), led a large delegation comprising of several ministers (Foreign Affairs, Trade & Private Sector Promotion, Transportation, Economy), representatives of the Chamber of Commerce of Togo and fifty businessmen from Lomé.
Nearly 500 participants - mostly companies in the Munich area - had responded to the invitation. This is the first time that Togo is organizing a meeting of this kind in Germany after nearly a quarter of a century.
"Here in this picturesque room, the desired convergence of two worlds and two walks that history has united in a friendship based on secular historic factors, a friendship that has transcended the historical and political events, said Mr. Houngbo during the inauguration, recalling that "the business community does not like socio-political instability. As elsewhere, Togo has experienced difficult times both politically and economically.But thanks to the commitment and civic engagement of political actors and the civil society, we have resolved this page and are committed to the future by giving us a vision that now includes the obligation of results at the pediment the city."
Things being said frankly, the leader of the Togolese government, while commending the authorities in Berlin for their support in the recovery effort for Togo, has invited the German private sector to invest in Togo's infrastructure, telecommunications, industry, finance and tourism.
"Investing in Togo is betting on the winning ticket," stated Gilbert Houngbo.
For his part Jonathan Fiawoo, the president of the Chamber of Commerce and Industry of Togo, said that this day "was intended to discover and rediscover the German companies, the new changing Togo, Togo in the new phase with international financial institutions and the new Togo which is full of potential to explore."
The Minister for Commerce, Kwesi Séléagodji Ahoomey-Zunu (photo), has, meanwhile, touted the merits of a more favorable environment for business with expedited procedures and a favourable taxation.
Finally, Mongo-Aharh Kpessou, the Permanent Secretary for the monitoring of financial programs recalled the deep reforms undertaken in terms of fiscal consolidation, the fight against corruption and good governance that led to the cancellation of 80% Togo's external debt by the IMF, the World Bank and the Paris Club.
A favorable context confirmed by several German speakers during the Economic Day, including Timm Sander, director of Inros Lackner AG (Bremen) present in Togo for many years in the port sector and infrastructure, Jutta Herbig-Lang, senior project manager KFW Banking Group(Frankfurt), Olaf Falk Petersdorf, member of the Board of directors of Bauer Resources and Uwe Baumgartner, the German Charge d'Affaires in Togo.
The meeting ended in the afternoon with meetings between German companies and Togo.

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