Minister of Commerce Tipu Munshi. Photo file.


Tipu Munshi

Minister of Commerce Tipu Munshi. Photo file.

Trade between Bangladesh and Russia will increase dramatically if complexities regarding double taxation and banking channels are removed, according to Trade Minister Tipu Munshi.

“There is a lot of demand for Bangladeshi products in Russian markets and therefore Bangladesh wants to increase its exports to Russia”, said Munshi during an exchange of views with Alexander Vikentevich Mantitsky, Russian ambassador in Dhaka, in his office yesterday.

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There is therefore a great potential for expanding trade with Russia if the two countries take the right initiatives, he added.

The trade minister went on to say that work on establishing 100 special economic zones in strategic points of the country is progressing rapidly, with many of these projects in the final stages.

“Important companies from many countries have already invested in these projects, while many others are showing interest as the government provides various facilities to attract domestic and foreign investment,” he said.

According to the Ministry of Commerce, Bangladesh exported goods worth $ 665.31 million to Russian markets against imports worth $ 466.70 million in fiscal year 2020-21 .

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