ZCZC
BSS-27
RUSSIA-TRADE-AGREEMENT
Dhaka-Moscow to sign MoU for better trade
DHAKA, Feb 26, 2019 (BSS) – Commerce Minister Tipu Munshi today said
Bangladesh and Russia would sign memorandum of understanding (MoU) for better
and expansionary bilateral trade.
The minister revealed this after a meeting with Russian Ambassador to
Bangladesh Alexander Ignatov at his secretariat office.
Bangladesh and Russia have been maintaining longstanding economic and
business relations, but the trade is yet to reach an expected level due to
some complexities, he noted.
Tipu said the MoU, which is expected to be signed at the end of March,
would help to open banking channels alongside the market. Bangladesh can
increase the export volume of readymade garment, sea food, potato and
pharmaceuticals to Russian market for the demand of these products, he added.
Echoing the commerce minister, Alexander Ignatov said they want to
import these products from Bangladesh for their good demand in Russian
market.
He said the MoU would pave the way for Bangladesh to expand its market
in Russia. “Russia is keen to strengthen bilateral trade relations with
Bangladesh, and exchanging tour of businessmen of both the countries would
expedite it.”
Later, the Netherlands Ambassador to Bangladesh Harry Verweij also met
with the Commerce Minister at his secretariat office. During the meeting, the
minister told the envoy that the Netherlands is an important market for
Bangladeshi RMG.
He said RMG factories have been modernized along with wage hike of
labourers which required huge investment, but price of RMG did not increase
in line with it. “So, fixing up the logical price of RMG is necessary,” he
added.
In the last fiscal, Bangladesh’s export volume was $ 1,205 million
against the import volume of $ 231.45 million.
Commerce secretary Mofizul Islam and additional secretary Tapan Kanti
Ghosh were present.
BSS/MAK/ARS/1835 hrs