The bilateral relationship between Bangladesh and Germany has grown in depth and dimension over the past half-century. The two countries have enjoyed long and fruitful cooperation on most international issues and platforms. Germany committed 3.03 billion euros in financial and technical assistance to Bangladesh between 1972 and 2020. Germany has also contributed to renewable energy, energy efficiency, good governance, the rule of law and human rights, and climate change adaptation as part of the Sustainable Development Goals 2030 Agenda and Bangladesh’s Five-Year Development Plans. The paper has not only analysed trade and development cooperation between the countries but also looked into the potential roles of Germany and the European Union to mitigate current challenges of Bangladesh in the near future. The author clearly concludes that a strong Bangladesh is good for Germany and the European Union. The circumstances are evolving, and it is time for Bangladesh and Germany and the rest of the European Union to find ways to take their relationships to a higher level of strategic partnerships.