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 meetings.
The proposals were discussed during a meeting between Russian Ambassador to Bangladesh Alexander Khozin and Federation of Bangladesh Chambers of Commerce and Industry Administrator Md Fazlul Hoque at the FBCCI office in Gulshan. 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.
FBCCI Administrator Md Fazlul Hoque called for greater focus on emerging sectors alongside the readymade garment 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.
The Russian ambassador 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, with Khozin noting that around 4,000 Russian specialists and engineers were working to resolve technical issues.
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, while FBCCI Secretary General Md Alamgir attended the meetings alongside embassy and high commission officials.
Why it matters
Establishing the proposed business council and expanding trade sectors will directly impact bilateral commercial ties and economic cooperation between Russia and Bangladesh.