Home ›› 07 Dec 2021 ›› News
Commerce Minister Tipu Munshi has sought cooperation from the Russian government to enhance bilateral ties and strengthen economic cooperation between the two nations.
He urged Russia to help remove the double taxation and simplify banking transactions to take benefit of the bilateral trade potential.
The call was made while exchanging views with Russian Ambassador to Bangladesh Alexander Vikentyevich Mantitsky
Russian Ambassador to Alexander Vikentyevich Mantytskiy at the Secretariat on Monday, said the commerce ministry in a statement.
“Russia is a development partner of Bangladesh. Both countries have historically good relations and trade potentials,” said the minister.
He said it is not possible to boost trade with Russia due to transaction complexities in the banking channels and some tariff complications. “If the complications are settled down, it is possible to boost trade between the two nations,” he said.
He added Bangladeshi products, including RMG, are now being exported to the Russian market via other countries due to various complications.
Echoing Tipu, the Russian envoy said trade and investment can be increased further between the two countries if the existing trade barriers are removed.
“The Russian government is sincere in removing the existing barriers in the way of trade,” he said.
The minister also invited Russian investors to set up industries in the country’s economic zones offered various benefits for overseas investors.
In fiscal 2020-2021, Bangladesh exported goods worth $665.31 million to Russia and imported goods worth $466.70 million.
