Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian support to ensure direct export of domestic products, including readymade garments (RMG), to the latter’s market. He said despite a huge demand for Bangladeshi products in the Russian market, RMG is being exported there through another country due to several issues that are being addressed now.

The issues relate to transaction in the banking channel and duties. The minister made the remarks when new Russian ambassador to Bangladesh Alexander V Mantytskiy visited him at his office.

Munshi also hoped that once these issues are properly addressed, the export of Bangladeshi products would increase manifold to the Russian market for which there is also a need for adequate support from the Russian side.

He also hoped that with the help of Russia, Bangladesh can boost its exports to the Eurasian Economic Union and the countries in the Commonwealth of Independent States (CIS).

The envoy said that the Russian government is interested to resolve the existing barriers and wants to be a development partner of Bangladesh.