Four years ago, Bangladesh joined the world nuclear club with the financial support of Russia. Russia is providing the lion’s share of the Rooppur nuclear power plant at a cost of Taka 1 lac 12 thousand crore in Pabna. Bangladesh wants to further strengthen its existing ties with the country. As part of this, Bangladesh wants Russia’s cooperation in the implementation of the Bangabandhu Satellite-2 project. The government also wants Russian investment in the country’s economic zones and high-tech parks.
A three-day meeting with Russia on various issues related to investment prospects and bilateral trade began on Monday (13 December). Economic Relations Division (ERD) Secretary Fatima Yasmin is chairing the meeting on behalf of Bangladesh. Russia is led by Ilya Shestakov, head of the country’s fisheries department. The meeting is taking place virtually.
Although there is huge potential for the export of goods to Russia, Bangladesh has not been able to utilize it. Bangladesh has stopped exporting potatoes to the country for six years. Russia has stopped importing potatoes from Bangladesh since 2015 due to the presence of harmful bacteria. At this year’s meeting of the joint finance and trade cooperation commission, the government will seek to lift the ban on exports of potatoes as well as shrimp and tobacco products. According to several policymakers of the government, now 76 products of Bangladesh are entering the Russian market with duty-free facilities. The number of these products is very low. Therefore, Bangladesh will seek opportunities to export garments, textiles, agriculturally processed products, textile products, medicines, ceramic products to Russia with duty-free facilities. In the last fiscal year 2020-21, goods worth around Tk. 5.5 thousand crore have been exported to Russia.
Meanwhile, the government wants Russian investment in economic zones and high-tech parks. The government is establishing 100 economic zones across the country. In those economic zones, India, China, and Japan have already gotten land and started working. The government expects Russia to invest in economic zones similarly. There are now 33 high-tech parks across the country. Bangladesh is also expecting Russian investment there.
