Dhaka, Moscow discuss strengthening bilateral ties

Bangladesh and Russia have significant potential for trade and economic cooperation despite the logistical and financial difficulties arising due to the unstable geopolitical situation, stated delegates at a session of the intergovernmental commission of the two countries.

At the 4th session of the Russia-Bangladesh Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) – the key mechanism for bilateral economic relations – they expressed satisfaction over the progress of the Rooppur Nuclear Power Plant and Gazprom's successful gas exploration in Bangladesh.

The event was held on 13-15 March via videoconference, said a press release.

The Russian part of the commission was led by Ilya Shestakov, head of the Federal Agency for Fisheries of the Russian Federation, and the Bangladeshi part was headed by Sharifa Khan, secretary of the Economic Relations Division, Ministry of Finance.

Amid the global energy market crisis, they discussed buying Russian LNG, oil, and oil products, coal industry collaboration, and joint nuclear and solar energy development.

The delegates also emphasised the importance of sharing experiences, technologies, and creating joint ventures in the fields of the railway industry, metallurgy, mechanical engineering, chemical industry, and engineering.

The mutual interest in strengthening relations in the ICT field and cybersecurity was also expressed at the discussion.

The delegations agreed to further increase mutual supplies of agricultural products, and expand their range by approving the necessary veterinary and phytosanitary documentation.

The meeting emphasised science and education, including increased ties between academic circles and more Bangladeshi students studying in Russia.

They also discussed expanding contractual frameworks in areas like customs cooperation and mutual recognition of academic degrees.

Establishing banking relations and a reliable settlement system was noted, and both parties expressed hope for the IGC's coordinating role in improving trade dynamics.