Moscow proposes Russia-Bangladesh Business Council to expand bilateral trade

The Moscow Chamber of Commerce and Industry has proposed establishing a joint Russia-Bangladesh Business Council to expand trade, investment and economic cooperation between the two countries.

The chamber also plans to organise a Russia-Bangladesh Business Forum in Moscow, where entrepreneurs from both countries would have opportunities for direct business-to-business (B2B) meetings.

The proposals were discussed during a meeting between Russian Ambassador to Bangladesh Alexander Khozin and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Administrator Md Fazlul Hoque at the FBCCI office in Gulshan today (16 September), according to a press release from the business body.

Khozin said a formal announcement on the proposed business council could be made at a meeting of the Bangladesh-Russia Intergovernmental Commission scheduled to take place in Dhaka in early November.

He said the proposed Moscow forum would bring Bangladeshi and Russian entrepreneurs together for sector-specific sessions and direct B2B meetings based on the profiles of participating businesses.

FBCCI Administrator Md Fazlul Hoque called for greater focus on emerging sectors alongside the readymade garment (RMG) industry to expand bilateral trade.

He identified pharmaceuticals, leather and leather goods, jute and jute products, ceramics and the export of Bangladeshi manpower to Russia as areas with potential.

The Russian ambassador said Russia's Health Ministry was reviewing procedural and legal issues related to importing generic medicines from Bangladesh.

He also said there was strong demand in Russia for heavy footwear and leather products suitable for the country's severe winter.

Russia has issued visas to around 3,000 Bangladeshi workers in recent months, with employment opportunities emerging in agriculture, fisheries, shipbuilding and services, according to Khozin.

The meeting also reviewed progress on the Rooppur Nuclear Power Plant.

Khozin said around 4,000 Russian specialists and engineers were working to resolve technical issues related to the project.

He said work was progressing with a target of supplying the first 300 megawatts of electricity to the national grid next month.

Both sides expressed hope that stronger cooperation between the government and private sector would further deepen commercial ties between Bangladesh and Russia.

Separately, Sri Lankan High Commissioner to Bangladesh Dharmapala Weerakkody met FBCCI Administrator Fazlul Hoque in the afternoon.

The high commissioner said the international trade fair Sri Lanka Expo 2027 will be held in Colombo from 14 to 17 January next year and invited a Bangladesh business delegation led by the FBCCI to attend.

Fazlul Hoque responded positively to the proposal to send a delegation to the fair.

FBCCI Secretary General Md Alamgir, along with officials from the Russian Embassy and Sri Lankan High Commission, attended the respective meetings.