Bangladesh solicits Russia's assistance for direct export of goods to its market
The commerce minister made the call at a meeting with the newly appointed Russian ambassador to Bangladesh at the ministry
Commerce Minister Tipu Munshi has sought cooperation from the Russian government for the direct export of readymade garments and other products from Bangladesh to the Russian market.
He made the call while exchanging views with the newly appointed Russian ambassador to Bangladesh Alexander Vikentyevich Mantytskiy in the ministry on Monday, said a commerce ministry press release.
"Bangladeshi-made garments are being exported to the Russian market through other countries due to various complications despite there being a huge demand for various Bangladeshi products including garments in that country," he said.
Keep updated, follow The Business Standard's Google news channel
The minister further said it is not possible to boost trade with Russia due to transactions in banking channels and some tariff complications. If the complications are solved, it will be possible to export a large number of Bangladeshi products to the Russian market.
Admitting that there is a huge demand for Bangladeshi products in Russia, the newly appointed Russian ambassador said Russia is keen to increase trade and investment with Bangladesh and his country puts special importance on it.
Trade and investment in both countries will be bolstered if the ongoing trade barriers are removed. The Russian government is sincere in resolving the ongoing complications. Russia wants to be a partner in the development of Bangladesh, the Russian envoy added.
Tipu Munshi also said under the leadership of Prime Minister Sheikh Hasina, Bangladesh is now implementing big development projects. Bangladesh is now able to supply high-quality products at competitive prices. Demand for Bangladeshi products is increasing worldwide.
With the cooperation of Russia, Bangladesh is also keen to increase exports to Russia, Eurasian Economic Union, and other CIS countries, he added.
In the last 2020-2021 financial year, Bangladesh exported goods worth $665.31 million to Russia, while importing goods worth $466.70 million at the same time.
Commerce secretary Tapan Kanti Ghosh, additional secretary (Exports) Mohammad Hafizur Rahman, additional secretary (FTA) Noor Md. Mahbubul Haque and other senior officials of the ministry were present on the occasion.
