Commerce Minister Tipu Munshi on Monday said that trade and commerce between Bangladesh and Russia would increase a lot if the complexity of double taxation and banking channels issues are resolved.
“There is a lot of demand for Bangladeshi products in the Russian market. Bangladesh wants to increase exports of goods to Russia,” he added.
The Commerce Minister made the remarks while exchanging views with Russian Ambassador to Dhaka Alexander Vikentevich Mantitsky at Bangladesh Secretariat.
“Russia is a friend of Bangladesh. Trade and economic relations between the two countries are long standing. Russia is a development partner of Bangladesh. There is a lot of opportunity to increase trade with Russia. If both countries take initiatives, it is possible to increase trade,” he said.
The Commerce Minister said that the work of setting up 100 special economic zones in important places of Bangladesh on the initiative of Prime Minister Sheikh Hasina is progressing fast.
“The construction work of many of these is in the final stages. Important companies from many countries of the world have invested in these and many are showing interest in investing,” he said.
He also said that the government of Bangladesh is providing various attractive facilities to attract domestic and foreign investment.
“Special initiatives have been taken to facilitate and expedite all investment related work and formalities. Bangladesh is now a safe and attractive place to invest. Russian investors will benefit if they invest in Bangladesh,” he further mentioned.
It may be noted that even amid the current Covid-19 situation, in the last 2020-2021 fiscal year, Bangladesh exported goods worth 665.31 million US dollars to the Russian market and imported goods worth 466.70 million US dollars at the same time. If the ongoing complexities in trade are removed, the export of Bangladeshi products to Russia will increase further.
