Finance Minister AMA Muhith has categorically said the government will continue e-commerce and investment talks with Russia though the United States and European Union imposed economic sanctions on the federation.
“We will not comply with the US and EU that slapped sanction on the Russian federation,” the minister told reporters at his secretariat yesterday after meeting with the Russian Ambassador to Bangladesh Alexander Nikolaev.
He also said the government may form a joint commission with the Russian federation to enhance commerce and investment between the two countries though the United States would not be happy about the matter.
The present trade volume between Bangladesh and Russia is around $543.59 million, and the balance is tilted in favour of Russia. Bangladesh’s import from Russia was $335.30 million in 2012-13 fiscal year against the export of $208.29 million.
Meanwhile, the total demand for clothes in Russia was estimated to be 21.4 billion euro in 2008 which had been projected to be about 29 billion euro in 2013.
According to the BGMEA research cell, Russia is the 12th largest apparel importer in the world, and Bangladesh, as the second largest garment exporting country, has a bright prospect there.