Russia keen to improve bilateral trade, investment with Bangladesh

30 Oct '21

1 min read

Moscow is keen to improve its trade ties with Dhaka, according to Russian ambassador to Bangladesh Alexander Vikentyevich Mantytskiy, who recently met Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) president Mohammad Jashim Uddin. Due to the lack of direct banking relationship and letter of credit opening facility, the bilateral trade potential is not being fully exploited, 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, Jashim Uddin said.

A Russian trade representative is scheduled to visit Bangladesh in November. The envoy promised to hold a trade meeting with the FBCCI during his visit, according to Bangla media reports.

The FBCCI had signed a cooperation agreement with the then Soviet Union in December 1987. Later in 2006, the apex trade body 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 signed a long time ago.

Fibre2Fashion News Desk (DS)

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