Bangladesh and Russia working to boost trade

DHAKA:  Bangladesh and Russia are working together to boost trade, investment and economic relations between the two countries to new levels according to Russian Ambassador to Bangladesh Alexander Ignatov.

“Our focus is bilateral trade. Its volume is growing. Last year, it hit a historical high of $1.6 billion — a 40 percent increase just in one year. Quite a jump! And we expect further growth this year,” the ambassador said while speaking to media on the occasion of the 45th anniversary of establishing diplomatic relations between Russia and Bangladesh.

“We are quite satisfied with the way our relations are developing. After all, there are no major problems or unsettled issues. This is very positive and gives us a sense of assurance,” he explained.

The ambassador said Russia is ready to develop economic cooperation with Bangladesh in the Bay of Bengal. “I discussed with Bangladeshi authorities the ways to strengthen the legal framework of cooperation and prospects of Russia’s participation in priority development projects of Bangladesh, including Russia’s involvement in construction and equipment of deep-sea ports,” he said.


The ambassador said strengthening trade ties will be one of his priority areas during his tenure here. For example, Russia is interested in increasing its agro-export to Bangladesh.


The ambassador said a special focus is made on energy sector as it is Russia’s strongest point. He said Russian energy company, Gazprom, is going to open its office in Bangladesh soon.


The ambassador said it is crucial that Russian and Bangladeshi banks have direct dealing facilities. “Russian rouble and Bangladeshi taka should be exchanged directly, not through dollar or any other currency.”