Russia strengthens trade relations with Bangladesh – OpEd – Eurasia Review
Bangladesh has requested Russian cooperation to export goods. The newly appointed Russian Ambassador to Bangladesh met with the Minister of Commerce on September 20, 2021.
Commerce Minister Tipu Munshi said garments made in Bangladesh are exported to the Russian market via other countries due to various complications. Complications have been identified. Efforts are also underway to resolve them. If the problems are resolved, it will be possible to export a large number of Bangladeshi products to the Russian market. He also mentioned the sincere cooperation of the Russian government in the direct export of ready-made clothes and other products.
The Minister of Commerce made the remarks during an exchange of views with the newly appointed Russian Ambassador to Bangladesh Alexander Vikentevich Mastitsky at the Office of the Minister of Commerce at the Secretariat on September 20, 2021. This information was provided in the press release of ministry press.
The Minister of Commerce said: “There is a huge demand for various products including garments made in Bangladesh in the Russian market. There are many opportunities to increase Bangladesh’s trade with the country. It is not possible to increase trade with Russia due to transactions in banking channels and some tariff complications.
At the time, the new Russian Ambassador to Bangladesh, Alexander Vikentevich Mastitsky, said: “Russia wants to increase trade and investment with Bangladesh. There is a lot of demand for Bangladeshi products in Russia. Trade and investment in the two countries will increase if current trade barriers are removed. The Russian government is sincere in overcoming the ongoing problems. Russia wants to be a partner in the development of Bangladesh.
“Bangladesh, in cooperation with Russia, wishes to increase its exports to Russia, the Eurasian Economic Union and other CIS countries,” he said.
It can be mentioned that in the last fiscal year 2020-2021, Bangladesh exported goods worth US $ 665.31 million to Russia. During the same period, it imported goods worth 466.70 million. Bangladesh will import 100,000 tonnes of wheat from Russia. Bangladesh has decided to import 100,000 tonnes of wheat from Russia to meet the growing demand for the staple food in the country.
The government made the decision at a meeting on Wednesday, according to Shamsul Arefin, deputy secretary of the Cabinet Division. The price would be finalized later by the Cabinet Committee on Public Procurement, he said.
At the meeting, state-owned Karnaphuli Fertilizer Company Limited (KAFCO) also received approval to purchase 100,020 tonnes of urea fertilizer from Qatar and Saudi Arabia.
Meanwhile, 40,000 tonnes of heating oil are imported from Indonesia at a cost of Tk 1.74 billion to the Bangladesh Petroleum Corporation.
Russia will offer 75 scholarships to Bangladeshi students. Russia has announced 75 scholarships for Bangladeshi students during the current academic year. The information was given during a press conference at the Russian House in Dhaka on Thursday afternoon September 23.
Russia to offer 75 scholarships to Bangladeshi students The Russian House hosted the press conference on the occasion of the International Journalists’ Solidarity Day. Mr. Maxim Dobrokhotov, director of the Russian House in Dhaka, underlined the very important contribution of the national media in the daily public life and wished the Bangladeshi journalists good luck in their professional functions. He pointed out that online journalism is now very popular in Bangladesh and plays a prominent role in the media. Dobrokhotov underlined the traditionally strong ties between Bangladesh and Russia and hoped these ties would be even stronger in the future.
He also mentioned that the Russian House in Dhaka is working hard on educational activities including the selection of applicants for government scholarship programs at Russian universities to make future qualified citizens of Bangladesh.
He said the Russian government has awarded 75 scholarships to Bangladeshis in the 2021-2022 academic year. It is hoped that this number can increase further in the coming year. On this occasion, he highlighted the important cultural and historical events of the Russian House this year and the plans for the future.
At the end of the press conference, Barek Kaiser, doctoral student at the Faculty of Journalism of the University of Peoples’ Friendship of Russia, handed his book “Bangabandhu in Russia” to Maxim Dobrokhotov, director of the Russian House.
Russia has expressed interest in purchasing mangoes from Bangladesh. According to a press release issued Wednesday by the Ministry of Agriculture, Russian Ambassador to Bangladesh Alexander V. Montitsky expressed this interest during a meeting with Minister of Agriculture Abdur Razzak at the Secretariat.
Mantitsky told the meeting that mangoes from Bangladesh are very tasty and of good quality. Russia has enormous potential for mango exports. Russia wants to buy mangoes.
Bangladesh is the seventh largest mango producer in the world, according to the Agricultural Extension Department. In Bangladesh, 2.5 million tonnes of mango were produced on 200,000 hectares of land this season. Last season 24 lakh 6,000 tonnes of mango were produced on 1 lakh 90,000 hectares of land. Exporters exported 691 tonnes of mangoes in fiscal year 2020-21.
The agriculture minister said Bangladesh is keen on importing diammonium phosphate (DAP) and potassium fertilizers from Russia. He said the country’s farmers are encouraged to use DAP fertilizers.
He said, “The use of DAP fertilizer in Bangladesh is increasing day by day, because the current government has reduced its price from Tk 90 per kg to Tk 18. We want to sign a memorandum of understanding on importing DAP and potassium from Russia.
Bangladesh has been importing MOP fertilizers from Russia since 2013 and there is a Memorandum of Understanding between the two countries in this regard.
In addition, the Minister of Agriculture asked the Russian Ambassador to reconsider the importation of potatoes from Bangladesh to Russia. He said, “The government of Bangladesh has taken many steps to make potatoes bacteria-free and safe. The country now produces many high quality potatoes. Russia could start importing potatoes again.
Russia banned potato exports from Bangladesh in 2014 due to brown rot in potatoes. The Russian Ambassador assured that the necessary measures would be taken to import potatoes.
Russia wants to increase cooperation in the energy sector
Russia wants to increase cooperation in the energy sector. Russia wants to increase cooperation in Bangladesh’s energy sector. Russian Ambassador to Bangladesh Alexander Vikenteviz Mantitsky expressed this interest during a meeting with Minister of State for Energy, Energy and Mineral Resources Nasrul Hamid at the Secretariat on Monday August 18. This information was given in the press release from the Ministry of Energy, Energy and Mineral Resources.
During the meeting, they discussed various issues of common interest. The Russian Ambassador said that Russia is keen to increase cooperation in Bangladesh’s energy sector. Stressing the signing of the MoU to expand cooperation in various energy fields on the basis of mutual consent, he said the two countries would benefit from an acceleration. Russia can also contribute to Bangladesh’s energy security and deep-sea exploration activities, the ambassador said.
Calling Russia a trusted friend, the state minister said Russia could cooperate to provide training for Bangladeshi engineers. We can also use the experience of Russia in oil and gas exploration in Onsor (sea area). The electricity and energy sector is constantly growing. A secure investment environment has been created. The minister of state also said that Bangladesh would welcome investments from Russian public and private companies.
Russia has expressed interest in investing in various fruit processing and food storage facilities in Bangladesh.
Russian Ambassador to Bangladesh Alexander Vikentevich Mantitsky on Tuesday paid a courtesy visit to Food Minister Sadhan Chandra Majumder at the Secretariat.
During the meeting, they discussed various issues including the economic development of Bangladesh and the expansion of bilateral trade and commerce.
Sadhan Chandra Majumder said that Russia’s relations with Bangladesh are very good. This relationship is gradually spreading in various fields including trade and investment. He recalled with gratitude Russia’s cooperation in rebuilding the economy and infrastructure of Bangladesh, a post-independence war-torn country.
The Minister of Food said that the current government, under the leadership of Prime Minister Sheikh Hasina, is working tirelessly for the betterment of the people of the country. As a result, Bangladesh is rapidly improving its socio-economic indicators. He mentioned that the government is working to ensure the food security of the population as well as to build a sustainable food management.
The Russian Ambassador said that there is immense potential for trade and investment between Bangladesh and Russia. Russia wishes to take this opportunity to play a role in achieving food security in Bangladesh.
Food secretary at the time. Moshammat Nazmanara Khanum, Director General of the Food Department Sheikh Mujibur Rahman, President of the Food Safety Authority Abdul Qayyum Sarkar and charge d’affaires of the Russian Embassy in Dhaka Sergei Papov were present.
(The information is taken from various Bangladeshi media)