We should focus on trade, nothing else
The annual export of our Sparrow Group amounts to $200 million, about 60% of which goes to the European market. So, only standing by Russia can be suicidal for us from a trade perspective.
Russia is not our main export destination, most products we export to the European Union, Great Britain and the United States. As a result, trade must be protected at all costs.
The EU and the United Kingdom as well should not be unhappy with our stance on the current issue. We should focus on trade.
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We enjoy duty-free export facilities in the European market, and there are also challenges that might arise out of the LDC graduation expected in 2026. In addition to trade, our monetary system can also be affected.
I do not export any products to Russia. A large part of what Bangladesh exports to Russia goes through brands, such as H&M. Several major brands recently temporarily suspended all sales in Russia due to the invasion of Ukraine.
From a humanitarian point of view, support for human rights violations is not logical. We should be totally focusing on trade and nothing else.
Europe apart, our exports registered excellent growth in the US market last year. So, we should not do anything that makes the US unhappy.
Shovon Islam, the managing director of Sparrow Group, talked to TBS Senior Staff Correspondent Reyad Hossain in WhatsApp
