Russia is keen to reflect the strong state relations with Bangladesh in bilateral trade and Investment, Russian Ambassador to Dhaka Alexander Vikentyevich Mantytskiy said on Wednesday.
"Moscow wants to improve this relationship as the full potential of trade between the two countries has not yet been explored," he said in a courtesy call on Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin.
He also said Russia and Bangladesh have historically good relations. His country is proud to be a partner in the development journey of Bangladesh through its active participation in various development projects, including the Rooppur Nuclear Power Plant, said a press release
FBCCI President Md Jashim Uddin said besides readymade garments, Bangladesh may export a good number of products including light engineering products, plastic, medicines and frozen food to Russia.
Due to the lack of direct banking relationship and Letter of Credit (LC) opening facility, bilateral trade potentials are not blooming to their fullest, he added.
A Russian trade representative is scheduled to visit Bangladesh next November. The Russian Ambassador promised to hold a trade meeting with the FBCCI at the time.
The FBCCI had signed a cooperation agreement with the then Soviet Union in December 1987. Later in 2006, the apex trade body of Bangladesh signed a cooperation agreement with The Chamber of Commerce and Industry of the Russian Federation and in 2019, with the Union of Moscow Chambers of Commerce and Industry.
The FBCCI president and the Russian ambassador agreed to re-visit the agreements reached a long time ago. The FBCCI will soon send information and drafts to the country's embassy.
At the meeting, FBCCI Vice President Md Habib Ullah Dawn spoke about sending a trade delegation from Bangladesh to the St Petersburg International Economic Forum, the annual economic event of Russia.
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md Amin Helaly and CEO Mohammad Mahfuzul Hoque were also present at the meeting.