Commerce Minister Tipu Munshi has said that Bangladesh’s exports to Russia will increase further if the problems caused by double taxation and banking channels are solved. He said, ‘Russia is Bangladesh’s friend. Trade and economic relations between the two countries are long-standing. Russia is a development partner of Bangladesh.’
He made the remarks during an exchange of views with the Russian Ambassador to Dhaka Alexander Vikentevich Mantitsky at his secretariat office on Monday (6 December).
This information was given in the press release sent from the Ministry of Commerce.
He also said, ‘There is a lot of opportunities to increase trade with Russia, and it is possible to do so if both countries are enterprising. There is a lot of demand for Bangladeshi products in the Russian market, so Bangladesh wants to increase exports of goods to Russia.’
Tipu Munshi said, ‘Bangladesh is now a safe and attractive place to invest. The work of building 100 special economic zones in important places is progressing fast and many are in the final stages. The Government of Bangladesh is providing various attractive facilities to attract domestic and foreign investment. Special initiatives have been taken to complete all the work and formalities related to investment easily and quickly,’ he said, adding that Russian investors would benefit if they invested in Bangladesh.
It is to be noted that even in the current COVID-19 situation, Bangladesh exported goods worth 665.31 million US dollars to the Russian market in the last fiscal year (2020-2021). At the same time, it imported goods worth 466.70 million US dollars. It has been informed in the press release that if the ongoing obstacles in the trade sector are removed, the export of Bangladeshi products to Russia will increase significantly.
