Bangladesh’s trade minister, Tipu Munshi, recently requested Russian assistance in ensuring direct export of domestic items, particularly readymade garments (RMG), to the latter’s market. He stated that, despite a high demand for Bangladeshi items in the Russian market, RMG is being exported through another country due to a number of obstacles that are now being handled.
The issues concern transactions in the banking channel as well as duties. The minister made the statements during a visit to his office by the new Russian ambassador to Bangladesh, Alexander V Mantytskiy.
Munshi further hoped that once these obstacles were resolved, the export of Bangladeshi items to the Russian market would skyrocket, which would necessitate significant Russian cooperation.
He also hoped that with Russia’s assistance, Bangladesh might increase its exports to the Eurasian Economic Union and the Commonwealth of Independent States (CIS).
The ambassador stated that the Russian government is eager to break down current barriers and work with Bangladesh as a development partner.